Over 100 homes acquired with Stanbic IBTC empowering Nigerians by turning dreams into addresses

Over 100 homes acquired with Stanbic IBTC empowering Nigerians by turning dreams into addresses

In a significant move to boost the Nigerian real estate sector, Stanbic IBTC Bank has played a strategic role in facilitating access to affordable housing finance to Nigerians. With over 100 mortgages closed at single digit interest rates, Stanbic IBTC in collaboration with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) has made a giant stride in reshaping the Nigerian home ownership landscape by directing essential funds toward property developers, real estate firms, and aspiring homeowners nationwide.

The MREIF provides financial support by offering loans of up to ₦100 million at an attractive interest rate of 9.75% per annum and a minimal equity requirement of only 10% of the property price. This comprehensive financial package empowers a wide variety of individuals; from first-time buyers looking to enter the property market to experienced developers ready to create new residential havens transforming the dream of home ownership into a reality. With these accessible terms, MREIF is setting the stage for a vibrant real estate renaissance, igniting hope and progress across Nigeria’s bustling communities.

 

Olu Delano, Executive Director, Personal and Private Banking at Stanbic IBTC Bank, expressed his enthusiasm about this initiative aimed at transforming Nigeria's housing landscape. “We are excited to spearhead this initiative, providing mortgages of up to ₦100 million to give Nigerians the confidence that they can realise their dreams of home ownership,” he stated. This ambitious programme is designed not only to increase access to affordable housing but also to stimulate growth within the real estate sector.

 

Taiwo Ala, Head Products at Stanbic IBTC highlighted that by facilitating home ownership, the bank aims to empower individuals and families to foster a sense of stability and investment in their communities. He stated that “The mortgages will be tailored to meet the diverse needs of Nigerians, ensuring more people can find their place in a thriving and secure environment”. This move is poised to make significant strides in enhancing the quality of life for many and promoting economic development throughout the region.

 

The impact of this collaboration is already evident, by providing tailored mortgage solutions. Whether a young business executive or a married couple purchasing their first property.  The over 100 mortgages already disbursed represent real stories of progress and stability. This milestone not only highlights Stanbic IBTC’s role in fostering economic growth but also aligns with broader national goals of increasing home ownership rates and stimulating the real estate economy.

To explore how you can benefit from these transformative mortgage solutions, visit Stanbic IBTC Bank’s website (Stanbic IBTC MREIF Home Loans | Stanbic IBTC Bank) or visit any of our branches today to start your journey towards home ownership.