List of Topmost Mortgage Institutions in Nigeria

Mortgage Institutions in Nigeria

Chances are you are likely looking to buy a home and are looking for the best mortgage deal, or you are wondering who the Nigeria’s topmost mortgage lenders are, If you are reading this article. Irrespective of the category to which you belong in this case, be assured that you have come to the right place because CampusNG has taken time to research the topmost Mortgage Institutions in Nigeria. If you are looking to buy a home and pay back in installment, ensure you read this article to the end.

Many people are frequently confronted with the obstacles of purchasing or constructing a home, and because owning such a property necessitates a large sum of money, which can take a long time to accumulate, mortgage services are considered.

Mortgage lenders are generally renowned for providing real estate loan facilities and collecting payments in instalments, which are usually subject to interest. Depending on the packages and/or the Mortgage institution, the instalments may be paid monthly, quarterly, or yearly.

Mortgage Institutions in Nigeria

Therefore, the following are the topmost Mortgage Institutions in Nigeria

1. FBN Mortgages

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FBN Mortgages, formerly known as Nigeria Building Society (NBS), is Nigeria’s oldest mortgage bank, having been founded in 1956. The mortgage company is committed to providing a diverse variety of real estate and mortgage finance solutions to all segments of the Nigerian population.

FBN Mortgages stands out as one of the best Mortgages institutions in Nigeria, with a focus on giving the best Mortgages solutions to typify the dominance of its parent (First Bank) in the Financial service business. If you’re looking for the finest mortgage loan rates in Nigeria, FBN Mortgage is the place to go because they provide excellent service and have helped many people buy their dream houses.

2. Platinum Mortgage Bank Limited

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PMB Ltd, founded in 1992 and registered with the Corporate Affairs Commission, is one of Nigeria’s largest primary mortgage finance companies, offering loans and house ownership services. The bank was previously known as Platinum Home Investment and Mortgage Ltd, with headquarters in Lagos, and was approved by the Central Bank of Nigeria (CBN) and the Federal Monetary Authority of Nigeria (FMB) under decree No 24 of 1991 and decree No 53, respectively.

The bank was recapitalised to become a primary mortgage lender with more spectacular and creative products, services, and professional management. Platinum Mortgage Bank is likely one of Nigeria’s best mortgage institutions, with over 25 years of operational history and experience.

3. Abbey Microfinance Bank

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Abbey is an approved mortgage bank for the National Housing Funding (NHF) on-lending facilities, which serve as an efficient vehicle for providing people and businesses with a variety of mortgages and investment services. So, if you’re looking for a more intriguing and rewarding product or service order than mortgaging, Abbey Mortgage Bank is the place to go. Take, for example, the kidzSave. KidzSave is a product that offers up to 5% returns and allows you to safeguard your children’s future. You can put aside at least N1000 per month for your children until they reach the age of 18.

The bank is also one of the seven national non-aligned primary mortgage banks that have been approved by the CBN and FMBN, making it suitable.

4. FirstTrust Mortgage Bank

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In 2019, FirstTrust Mortgage Bank merged with TrustBond Mortgage Bank PLC to form FirstTrust Mortgage Bank. The combined companies have a long history dating back to 2003. The institution has a robust capital foundation and assets in excess of N20 billion, and it is committed to meeting Nigerians’ financial requirements through mortgage lending services.

4. Federal Mortgage Bank

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Through mortgage lending, the Federal Mortgage Bank makes it easier for Nigerians to own properties. The mortgage institution is a profit-driven bank that is dedicated to serving consumers all over Nigeria. FHF Nigeria and the company recently struck a strategic collaboration agreement to expand the company’s affordable housing offerings to customers across Nigeria.

It may also be of interest to you to know that this mortgage organisation has a long history and is the oldest of them all, having been founded in 1956 to replace the Nigeria Building Society under the presidency of Olusegun Obasanjo.

Source: CampusNG

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