Stanbic IBTC Bank’s summit spotlights easy routes to homeownership

Stanbic IBTC Bank’s just concluded summit has spotlighted easy routes through which people looking for homes to buy could realise their dreams.

The Home Ownership Summit with the theme, ‘Building Wealth Through Homeownership,’ provided an avenue for the bank to communicate its commitment to empowering individuals, families, and business owners with the means to own their dream homes and properties.

The bank, according to Wole Adeniyi, its chief executive, offers multiple options to support Nigerians to realise their home ownership dreams. These include easy access, flexible repayment terms of up to 20 years, expert guidance from a team of property specialists, and joint mortgage options.

Read also: Fake news, rumours, and the state of play at Polaris Bank

Adeniyi disclosed that the bank’s Home Loan solution offers home seekers hope, explaining that with competitive interest rates, flexible equity contribution, and personalised guidance, they aim to bridge Nigeria’s housing gap and make home ownership attainable for their stakeholders.

He highlighted the importance of home ownership as a cornerstone of financial stability and wealth creation, stressing that “we are committed to facilitating access to home ownership without undue financial strain.”

The summit which gathered together potential homeowners and key industry decision makers, also had the Lagos State commissioner for housing, Moruf Akinderu-Fatai in attendance as keynote speaker.

The commissioner who was represented at the summit by Abdulhafiz Toriola, permanent secretary of the state’s Ministry of Housing, disclosed that Lagos has about 2.3 million housing units deficit which, according to him, presents huge opportunity to investors.

He pointed out that the demand for housing in the state is ever-increasing, stressing that facilitating home ownership is not only important, but also requires strategic attention from governments across board and stakeholders across the value chain.

The state government, according to him, has been able to develop 39 estates that has delivered over 10,000 flats, adding that the state government has launched multiple affordable housing schemes to cater to people with different incomes, including the low, medium, and high.

Read also: Banks recapitalisation and the issues at SEC

“The Ministry of Housing takes care of the low and medium, while the LSDPC takes care of the high,” the commissioner said.

He explained that the state’s housing programme aims to provide housing at subsidised rates and enables more Lagosians to enter the property market. It includes the allocation of 40 percent rebate for civil servants while there is the open balloting for private workers where people apply online.