FCMB partners firms on housing loans


By Olumide David

The First City Monument Bank has released a statement in partnering with real estate firms, Brains & Hammers Limited and Brooks Assets & Resources Limited, to provide affordable housing for salary earners and self-employed residents in Lagos.

In furtherance to the statement, by the FCMB bank said the partnership, which offered mortgage loans of up to N75m, would empower FCMB customers and other Nigerians to purchase homes or acquire lands in areas of their choice within Lagos.

The Divisional Head of Personal Banking of FCMB, Shamsideen Fashola, while speaking said, the partnership was geared towards addressing the affordability challenges facing its customers, as well as other Nigerians seeking to become homeowners.

“Our partnership with Brains & Hammers Limited and Brooks Assets & Resources Limited, is to encourage our customers and to give them hope of they can do it. And it also provides a unique opportunity for our customers to fulfil their dreams of home ownership, easing all the constraints and fears associated with this exciting and self-fulfilling life moment that everyone cherishes,” he said.

“FCMB is known for its promise to always continue to support the dreams of its customers and Nigerians by giving them the financial support they need to be homeowners when it matters most,” Fashola added.

He explained that repayment of the mortgage facility could be spread over 120 months or 10 years, adding that the scheme offers several benefits, including competitive interest rates, insurance cover and the flexibility to purchase fully completed residential buildings or land in any part of Lagos.

The Acting Group Chief Operating Officer of Brains & Hammers Limited, Christine Fashakin-Nobre, said the company had products for Nigerians dreaming of becoming landlords, and would work with FCMB to reduce the housing deficit.

“We have affordable to luxury high-end residential, commercial and hospitality space for interested Nigerians,” she said.

The Managing Director of Brooks Assets & Resources Limited, Lanre Sola, said the provision of affordable and acceptable housing to the average Nigerian had been a source of concern over the years, but the long-term mortgage facility by FCMB had come as a blessing in disguise.