PRESS RELEASE LAGOS HOMS ALLOTEES - TopicsExpress

PRESS RELEASE LAGOS HOMS ALLOTEES ADVISED TO EMBRACE MORTGAGE CULTURE: Lagos State Mortgage Board (LMB), custodian of Lagos Home ownership Mortgage Scheme (Lagos HOMS) has advised all the allotees that emerged in all the past draws to imbibe a mortgage culture for them to have a hitch-free contractual agreement with the board. Speaking during the counseling session organized by the board on Saturday, the Executive Secretary, Mr. Akinola Kojo Sagoe commended the efforts and vision of Lagos State Governor, Mr. Babatunde Raji Fashola (SAN) for intervening in the housing deficit in the state with the construction of Lagos HOMS housing scheme across the state and jump-starting the mortgage system with an interest rate of 9.5%, saying, the goal is simply to create a sustainable mortgage culture that Nigerians could key into. At the counseling meeting, 76 allotees that emerged from the 3rd draw held on the 7th of May 2014 at the Blue Roof, LTV8 were in attendance. At the first session, the Executive Director (operations) Mrs. Omobola Fashola tutored the new landlords on “mortgage culture”, advising them to create a total life time change in their finances. She reiterated that the counseling session is usually a day set aside to meet with successful (Home Owners) that emerge at every draw so as to sensitize them on all other conditions attached to the mortgage schemes for them to have a hitch-free contractual agreement with the board. She added that the session enables the new home owners to interact with one another so that they can bond as new landlords co-habiting for the first time in an exclusive estate. However, the Executive Director of the board in charge of shared services, Mr. Bayowa Foresythe also hinted that facility management is an integral part of owning a home. He therefore, appealed to the allotees that no structural alteration is permitted on the buildings, also alteration of external painting is not authorized. He stressed further that erection of shanties, market stalls or sheds are not allowed within the estates. The Executive Secretary, Mr. Sagoe further sensitized the allotees on issues ranging from signing –off of their contractual agreement with the board, servicing their mortgage and deed of mortgage which must be duly registered at the land bureau. Yomi Oladapo Principal Press & PR Officer LAGOS STATE MORTGAGE BOARD Monday 19 May, 2014