Home Events NMRC, partners to hold Diaspora Mortgage Confab in Atlanta, London

NMRC, partners to hold Diaspora Mortgage Confab in Atlanta, London

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In a bid to help Nigerians living abroad, housing finance experts and developers will meet in Atlanta and London to showcase opportunities Nigerians in the Diaspora can utilise for home ownership.

The Atlanta conference carries the theme Investing at Home – An Opportunity for Nigerians in the Diaspora while the one in London has Accessing Diaspora Mortgages for Home Ownership and Housing Investment in Nigeria.

The conferences are jointly organised by the Nigerian Mortgage Refinance Company (NMRC), Mortgage Banking Association of Nigeria (MBAN), Federal Mortgage Bank of Nigeria (FMBN), Real Estate Developers Association of Nigeria (REDAN), Chartered Institute of Bankers of Nigeria (CIBN) and Global Homes Mag Ltd. UK (Global).

The Executive Director, Policy Strategy Partnership, NMRC, Dr Chii Akporji who spoke with Viewpoint Housing News in Abuja recently said the conference targets Nigerians living abroad because of the disappointments many have suffered trying to build homes in Nigeria.

“Many had remitted hard-earned savings fund home with good thought that they would be utilised towards the construction of a home – only to find out upon visiting that the funds had been diverted to other uses or there’s a huge mis-match between the funds sent home and physical development on the ground,” Akporji expressed.

She said through the recently approved Uniform Underwriting Standards for mortgage institutions by the Central Bank of Nigeria (CBN), such ugly incidents are coming to an end.

New CBN guidelines have been designed to create for Nigerians living in the Diaspora access to 15-20-year mortgages from mortgage lending banks in Nigeria.

Ugochukwu Chime, President Real Estate Developers Association of Nigeria

The conferences, she said provide an excellent platform to have more facts and terms and conditions about Diaspora-focused Mortgage.

Developers in Nigeria, especially members of REDAN will be at the conferences to showcase their stocks of housing units, even as those willing to buy houses will be properly guided to do so.

Stakeholders describe the conferences as “opportunity to own your own home back in Nigeria and even buy one as a source of additional income for investment.”

The UK conference  is scheduled for October 12-13, 2018 at Holiday Inn Regents Park, Carburton Street, London while that in the US is at Renaissance Waverly Hotel, Cobb Galleria, Altanta, Georgia.

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