Infinity Trust Mortgage Bank plc has announced a collaboration with the Independent Corrupt Practices Commission (ICPC) and Gefen Group to provide estate development loans for the execution of a cooperative estate, situated in Abuja.
According to the Bank, the collaboration will allow it to provide mortgage financing to the developer and package National Housing Fund (NHF) loans for the housing scheme’s beneficiaries, thereby contributing to the workforce. The cooperative housing development has 80 flats with 2, 3, and 4 bedrooms.
As low and middle-income workers make up a larger percentage of Nigeria’s income earners, the initiative is expected to help in addressing the problem of housing, which many individuals face due to high rent costs and the country’s rising poverty rate.
“ITMB Plc is proud to partner with the ICPC and Gefen Group in such a momentous venture by serving as the Primary Mortgage Bank to facilitate the National Housing Fund to the off-takers,” Sunday Olumorin, acting managing director/CEO of Infinity Trust Mortgage Bank Plc made his comment. “This facility will not only contribute to the creation of a shelter for desiring homeowners but also impact the lives of civil servants. Besides the overt benefits, this partnership will assist ITMB Plc in the fulfilment of its vision of being the ideal customer-focused bank.”
Olumorin expressed his gratitude for the partnership, noting that the collaboration with ICPC and Gefen Group will enhance access to house financing for Nigerian families and individuals on a lower-middle-income.
He also encouraged potential bank customers, particularly civil workers, and company owners, to make use of the bank’s mortgage options. He acknowledged that saving and purchasing a property in full may be challenging for public workers and business owners, but the Bank offers specialized mortgage programs that can make the goal of homeownership a reality more easily and at highly competitive rates.
Source : Business Day