By Goddy Egene
The Federal Mortgage Bank of Nigeria (FMBN) has given approval to Resort Savings and Loans Plc, a primary mortgage institution to disburse N165.200 million National Housing Funds(NHF) to applicants for mortgage loans.
This is the second approval the company is getting within four months having earlier received approval to disburse N411million last August.
The Managing Director of Resort Savings, Mr. Abimbola Olayinka, said the bank was poised to deliver quality service to its numerous customers.
“Resort Savings and Loans is still very committed to timely delivery of houses through its wide range of products which include the NHF. The bank’s target is towards the low, medium income earning individual, private sector employees, public servants, self-employed, businessmen, tradesmen owning their personal homes in any urban centre of the federation with the property serving as the sole collateral,” he said.
According to him, the loan repayment is just like the monthly rent
because of its single-digit interest rate of six per cent per annum with a long tenor of about 30 years depending on the present age of the subscriber.
He explained that the bank would be ready to assist individuals and corporate organisations in the remittance of employees 2.5 per cent of the basic income from organisations who wants to become contributors to the NHF.
Olayinka noted that the bank had been able to create an atmosphere that made home ownership more accessible and timely to all Nigerians from the age of 18 years and above.
“Resort Savings and Loans Plc is one of the most capitalised mortgage banks in Nigeria, with a remarkable customer patronage base. It collaborates with corporative societies from both the private and public sector organisations,” he said.