The Federal Mortgage Bank of Nigeria (FMBN) is reviewing some of its existing lending conditions for primary mortgage banks and individual borrowers as part of efforts to improve access to housing finance.
The bank’s Managing Director, Shehu Usman Osidi, disclosed this at the 2026 Mortgage Finance Roundtable 2.0 organised by the Mortgage Banking Association of Nigeria (MBAN) in Abuja.
Osidi said the review was aimed at making mortgage lending processes more flexible and responsive to prevailing market realities while maintaining appropriate risk management standards.
He said the bank was also exploring a blended finance framework proposed by MBAN to strengthen mortgage funding and improve access to housing finance.
The FMBN managing director further highlighted the bank’s existing housing finance products, including the Diaspora Mortgage Loan and its non-interest lease-to-own mortgage product.
He also disclosed that the bank was working towards introducing a Rent Assistance facility as part of efforts to expand its housing support options.
The discussions at the roundtable centred on improving mortgage accessibility, strengthening housing finance institutions and addressing structural challenges limiting homeownership in Nigeria.
The proposed review comes amid persistent affordability challenges in the housing market, with high interest rates, limited access to long-term financing and stringent mortgage requirements continuing to restrict access to formal housing finance.
For prospective homeowners, changes to lending conditions could improve access to mortgage facilities, particularly if they translate into more manageable qualification requirements and repayment arrangements.
However, the extent of the proposed changes, including the specific lending conditions to be reviewed and when they will take effect, remains to be established.
