“The cost of mortgages will come down drastically in Nigeria” Mrs. Olajumoke Fashanu

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Mrs. Olajumoke Fashanu is the MD/CEO of Firsthome Mortgage Brokers Limited; the foremost mortgage broking company in Nigeria. She is a highly intelligent, highly motivated, and very insightful personality leading the mortgage industry with a passion to provide a home for every Nigerian on the face of this earth.

Related: https://www.coinboxlimited.com.ng/addressing-housing-shortage-in-nigeria/

According to her “we have a housing deficit of more than 17 million units in Nigeria” and stated that the major reason for this is ability to afford the homes by those that need it but “The cost of providing mortgages will come down drastically” as government is working on schemes in partnership with pension funds to address the high cost of mortgage in the country.

She sees mortgage as an age challenge and believes that access to mortgage financing should be from a young adult age – “the earlier a young person realises they want a home, the earlier they are to start saving”.

She can be considered a trail blazer and an innovator as she started mortgage brokerage when it did not exist in Nigeria and when there were no laws in the country guiding its establishment and operations. At this time, such a venture is like suicide but she took the leap in faith but instead of dying she has soared higher and higher with her company – Firsthome mortgage brokers limited who is the leading company in Nigeria for the provision of mortgage brokerage services in the country.

She brings a message of hope as she says that “It is not that there are no houses but there is a mismatch” all that needs to be done is to realign people with homes that suit their pockets and needs not wants and many people with have a roof over their heads.

this is a 2-part interview. the first one is below:

In the second part of the interview, she talked about the parties to ensuring the success of Mortgage delivery in Nigeria and some of the loans available to the public.

These include:

  • Rent-to-own mortgage where you build equity and then get into the mortgage and pay back in form of rental payments
  • home ownership mortgage by the Federal mortgage bank of Nigeria
  • Renovation Loan by the Federal Mortgage Bank of Nigeria and others.

She also had some advise for women coming up in business as entrepreneurs and those coming in to the real estate industry. Watch the second part of the interview below;

Having talked with her, we still had a brief interview with her Head Business development – Mr. Ayodele Idris, who gave us a brief walk through of the brokerage process. watch below;

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