Housing is a major issue in Lagos, especially for young working class people. The Ambode led government has taken steps to curb the issue of housing with the new Rent-To-Own and Rental Housing policies. The scheme is targeted at low and medium income earners and allows individuals to pay the required 5 per cent of the value of the housing unit as commitment fee with the balance is spread over 10 years.
According to insidemainland.com, there are 12 Housing Estates scattered across parts of the Lagos Metropolis such as Surulere, Ikorodu, Alimosho e.t.c dedicated for this Scheme, there are also different units to suit every pocket.
The program allows the tenant to live on the property while paying towards ownership as a fixed rent within the period of ten years.
See criteria and steps to be a beneficiary of the scheme
1. Applicants must be primarily resident in Lagos State and will be required to submit a copy of their Lagos State Residents Registration Card.
2. Applicant must be a First Time Buyer, over 21 years of age, tax compliant and 33% of his/her earnings must cover the monthly rental payments.
3. Applicants can obtain their forms from Lagos State Mortgage Board located at Ministry of Housing Bk 3 Alausa Secretariat or download the forms at www.lagoshoms.gov.ng.
4. Make payment of N10,000 to dedicate First Bank of Nigeria Plc Account number 2023834576.
5. Completed forms, as well as the payment receipt and all supporting documents, should be submitted in person at the Lagos State Mortgage Board office or online.
For further inquiries, interested applicants can visit the Lagos State Mortgage Board at LBIC Building (Ground Floor), plot 1, ASSBIFI Road, Central Business District, Alausa, Ikeja, Lagos. Applicants can also contact officers on 07044519311, 08124817363 or send an e-mail to [email protected].