CONFERENCE AND EXHIBITION ON “HOME OWNERSHIP AND PROPERTY INVESTMENT IN NIGERIA MADE EASY”
Our managing partner attended and participated in The Nigeria Diaspora Mortgage and Property Conference/Exhibition Sponsored and hosted by major players in the Nigerian real estate market, including Mortgage Banking Association of Nigeria (MBAN), the Nigeria Mortgage Refinance Company Plc (NMRC), the Federal Mortgage Bank of Nigeria (FMBN) as well as the Real Estate Developers Association of Nigeria (REDAN), held at The Crowne Plaza London – Battersea,on the 17th and 18th May 2019,
THE TWO-DAY CONFERENCE AND EXHIBITION ON “HOME OWNERSHIP AND PROPERTY INVESTMENT IN NIGERIA MADE EASY” was a gathering of key stakeholders of the housing and property market in Nigeria and the purpose was to showcase credible steps to buying your own home or owning a property for investment income in Nigeria.
There are so many sad stories of Nigerians in the United Kingdom and the rest of Europe trying to buy property back home that they can return to for vacations or for rental income and having been swindled out of their hard-earned remittances, by either unscrupulous agents or worse still, family members and friends.
This Conference/Exhibition marked the beginning of the end of such stories for the following reasons:
Sponsorship by credible stakeholders of the Nigerian housing market funded through a combination of public and private sector funding as well as international development finance institutions like the World Bank
Deployment of the Uniform Underwriting Standards for Diaspora Mortgages recently approved by the Central Bank of Nigeria as new Guidelines for long-term Diaspora Mortgages, through the Mortgage Banking Association of Nigeria (MBAN); the Nigeria Mortgage Refinance Company Plc. (NMRC) and the Federal Mortgage Bank of Nigeria (FMBN).
The new Guidelines would enable Nigerians living in the Diaspora to access 15 to 20 – year Mortgages from Mortgage Lending Banks in Nigeria to buy their homes; or for those who already own their homes, to buy additional homes for investment income purposes.
Focus on addressing all issues and concerns along the housing value chain that potential buyers in the Diaspora often come across, from Accessing land for off-plan development, to Property search to all associated legal and regulatory issues, Proptech issues and deployment, Accessing mortgage finance, Interest rates issues, Mortgage refinance and opportunities for mortgage securitization, etc.
The event was co-ordinated by Alpha Cities Africa.