• Thursday, May 30, 2024
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How, where to own a home with just N78k monthly contribution, mortgage


The lull in the Nigerian property market is, increasingly, providing opportunity for young Nigerians aspiring to own homes as developers are now fashioning out new products aimed to enable homeownrship.

One of such products presently in the property market is the Mixta Flex which is coming from the stable of Mixta Africa.

Founded in April 2005, Mixta Africa has a vision to become the foremost real estate developer in Africa. With offices in Morocco, Senegal, Tunisia, Côte d’Ivoire, Nigeria and Mauritania and projects in Algeria and Egypt, the company has a mission to create value for its clients by delivering innovative solutions.

The new product offers a convenient payment scheme that allows subscribers to pay in manageable amounts. It demands 10 percent equity contribution paid over an agreed period.

According to the company, the subscriber should be able to pay the 90 percent balance through mortgage payment options available for up to 25 years.

This scheme, the company explains, is accessible to individuals in current employment but it is not limited to civil servants, doctors, bankers, engineers etc.

Owning a home through this product involves five simple steps. The first is to select the preferred home type which suits the buyer’s budget. The next is to secure the selected home with an initial deposit.

The next thing the buyers does is to pay 10 percent of the total price over an agreed period;  pay 90 percent  balance through mortgage payment options, and finally move into the home.

Three main house-types are available for this scheme and they are 1-bedroom bungalow; 2-bedroom bungalow; 3-bedroom bungalow and 3-bedroom bungalow semi-detached.