LASG RENT-TO-OWN HOUSING POLICY - RENT-TO-OWN MORTGAGE ARRANGEMENT

Here’s How To Apply For LASG Newly Launched Rent-To-Own Housing Policy.

Several weeks after the Lagos State Government officially announced the commencement of the Rent-To-Own and Rental Housing policies of Governor Akinwunmi Ambode’s administration, many residents across Lagos still battle with having a clear understanding of how the process works.

Targeted at low and medium income earners in both the formal and informal sectors, the Rent-To-Own arrangement allows individuals to pay the required 5 per cent of the value of the housing unit as commitment fee with the balance is spread over 10 years.

With 12 Housing Estates scattered across parts of the Lagos Metropolis such as Surulere, Ikorodu, Alimosho e.t.c dedicated for this Scheme, there are also different units to suit every pocket.
The programme allows the tenant to live on the property while paying towards ownership as a fixed rent within the period of ten years.
The criteria and procedures to apply for the process are as follows;

1. Applicants must be primarily resident in Lagos State and will be required to submit a copy of their Lagos State Residents Registration Card.

2. Applicant must be a First Time Buyer, over 21 years of age, tax compliant and 33% of his/her earnings must cover the monthly rental payments.

3. Applicant can obtain their forms from Lagos State Mortgage Board located at Ministry of Housing Bk 3 Alausa Secretariat or download the forms at www.lagoshoms.gov.ng .

4. Make payment of N10,000 to dedicated First Bank of Nigeria Plc Account number 2023834576.

5. Completed forms as well as the payment receipt and all supporting documents should be submitted in person at the Lagos State Mortgage Board office or online.

For Consultancy and Processing

Contacts

Libethi Consult Ltd.

Email: Libethi@outlook.com

Calls: 08070929576

Whatsapp: 08060195149

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