THE NHF SHEME
Average time to read2:30 minutes aprox.«A wise man builds his house on the rock» – Jesus Christ
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The basic need of everyman is food, shelter and clothing; these needs actually come in the sequence mentioned. The instinct for survival is the mainstream in life and in order to consolidate to meet the challenges of the future, one needs to start building structures today. Basic shelter is one of the most progressive assets in life and actually the most liquid property that can be used for barter exchange. If you have a land, you are wealthy; if you own your house, you are sure of a stable asset. All said and done, renting (not to talk of owning) a house has become a worrisome burden for youths in Nigeria especially for those seeking to build a family. The rate of increase for rent is alarming; barely one year ago, a three bedroom flat that goes for 150K/year in an average mainland like Surulere is now 450K/year. This astronomical 300% increase accompanied with lethargic promotion in the work place calls for serious consideration.
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I do not want to build a house because I know the hassles it involves – my father built his houses, my mother built hers and my elder ones built theirs also. So I am quite familiar with the heart ache involve. All I need to do is buy one or renovate one; whichever way, one needs to be prepared. With the proliferation of mortgage schemes in the country, one needs to be wise in choosing the ones that would not cut your throat so my research has landed me on the NHF fund. What is the NHF fund? NHF is an acronym for National Housing Fund; it's a government owned scheme championed by the Federal Mortgage Bank of Nigeria. Your contribution of a minimum of five hundred naira (N500) to this scheme for six month authenticates your right to a loan of maximum Five Million Naira (N5, 000, 000) at 7% interest over an average of 35 years payment depending on your age. Wonderful, right but it comes with its own snag:
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You can only obtain this loan through a mortgage bank that makes sure you have a Five Hundred thousand Naira (N500, 000) deposit in their bank and a charge of about Eighty Thousand Naira (N80, 000). It's actually still not bad in comparing it with other mortgage scheme; this I have decided to do to build for the future. I do not want to wake up one day and realized that to rent a house in Lagos, you have to share your three bedroom flat house with three other families to be able to pay. Lagos is tending towards this trend that is why a wise man should build for the future. I can not forget the smile on my fathers face when he collected his rent from one of his tenant amounting to about 200K/year for a three bedroom flat that he collected 12K/year in my presence just barely some years ago. He even boasts that he is a generous and fair man; amongst other landlords he collects peanuts. What can we say; you only need to be wise.
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Now coming to investment scheme, housing is actually a non-depreciative asset if I may use that language. It is actually an investment that has negligible risk except a «force majure» threatens. After going through coup is coup and you are successful (not that I am advocating coup is coup), this I would advise you to venture in because you really need to. God told Noah to build an ark for the future storm that he has never experienced and he simply obeyed. I am not God but I am prophetic; consolidate your life for the future challenges ahead because they definitely look grim.
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25 comments
3 days ago
i love your comments, they are good advise and prohetic as you have rightly said.
i just want you to expanciate more on the NFH SHEME
1 year and 1 month ago
friends what is happening no one is talking about this nhs again?
1 year and 2 months ago
@All, I feel the list below might be a little useful for you guys in the house.
@ Dipo, I guess the Omega mortgage bank is the same as omega savings and loans in the list. Pls correct me if I'm wrong.
Have fun guys.
Abbey Building Society Limited
Address: 19, Warehouse Road, Apapa, Lagos
Phone: +234 1 5873740, 5875607, 5871493, 5873740
ABS Building Society Limited
Address: 45 Apongbon Street, Lagos, Lagos State
Phone: +234
Acclaim Home Savings & Loans Ltd
Address: 11B Karimu Kotun Street, Victoria Island, Lagos
Phone: +234 1 2618942, 2610112, 2616967; Fax: +234 1 2623098.
Accord Savings & Loans Ltd
Address: 2 Aromire Avenue, Off Adeniyi Jones Avenue, Ikeja, Lagos
Phone: +234 1 4936913, 5557507; Fax: +234 1 4972076.
Website: http://www.accordsavings.com
AG Homes Savings & Loans Ltd
Address: 96, Opebi Road, Ikeja Lagos
Phone: +234
Akwa Savings & Loans Ltd
Address: 42 Oron Road, Uyo, Akwa Ibom State.
Phone: +234 85 201798, 202356.
Allwell Savings & Loans Ltd
Address: 90 Upper New Market Road, Onitsha, Anambra State.
Phone: +234 46 214829; Fax: +234 46 219869.
Amex Mortgage Finance Company Ltd
Address: 10 Ogui Road, Enugu, Enugu State.
Phone: +234 42 253390; Fax: +234 42 253390
Amicable Building Society Limited
Address: 45, Apongbon Street, Lagos Island, Lagos
Phone: +234 1 2641233-4, 2640457, 2642880
Anambra Home Ownership Co. Limited
Address: 1 Prince Arthur Eze Road, Awka, Anambra State
Phone: +234
Aso Savings & Loans Ltd
Address: 8 Ogbomoso Street, Area 8, Garki, Abuja.
Phone: +234 9 2345156 - 8; Fax: +234 9 2345158
Website: http://www.asosavings.com
New Prudential Building Society
Address: 28 Oba Akran Avenue, Ikeja, Lagos
Phone: +234 1 4937143, 4976396, 4611644
Nigeria Bank For Commerce & Industry
Address: 26, Idejo Street, P.O.Box 4412, Victoria Island, Lagos
Phone: +234 1 2614872
Nigerian Industry Dev. Bank Limited
Address: NIDB House, 63/71, Broad Street, P.O.Box 2357, Lagos Island, Lagos
Phone: +234 1 2663470, 2661460, 2662355, 2661684
Omega Savings & Loans Limited
Address: Total Plaza, Km 16, Lekki Expressway, Agungi, Lekki, Lagos.
Phone: +234 1 8763148
Website: http://www.omegasavings.com
Personal Trust Savings & Loans Limited
Address: 67, Ogunala Drive, P.O.Box 960, Surulere, Lagos
Phone: +234 1 5454711, 7733584, 7736639
Website: http://www.ptslng.com
Spring Mortgage Limited
Address: 16 Diya Street, Ifako - Gbagada, Lagos
Phone: +234 1 7616644
Website: http://www.springmortgageltd.com
STB Building Society Limited
Address: 64, Awolowo Road, Ikoyi, Lagos
Phone: +234 1 685058
Union Homes Savings & Loans Limited
Address: 153, Ikorodu Road, Onipanu, P.M.B. 041, Shomolu, Lagos
Phone: +234 1 4972184-6 Fax: +234 1 4972186
Union Trust Building Society Limited
Address: 79A, Samuel Adedoyin Street, Victoria Island, Lagos
Phone: +234 1 2622506, 2622507, 2617476, 2622506-7
1 year and 2 months ago
Thanks a lot Dipo.
Pls help with their contacts, phone numbers, office address and all. website if they have.
cheers
1 year and 2 months ago
@ Dosky
I am making use of Omega Mortgage Bank....
1 year and 2 months ago
@ Dipo,
«My mortgage Bank claims they can get it done on 6 month immediately after your deposit of 580K is in the account»
Why are you silent on the name of your mortgage bank? I'm sure everyone in this blog will appreciate this info.
Thanks
1 year and 3 months ago
Nospetco, Treasurelink,etc are all stories compared to 6k4U. I joined the 6K4U that yields $6000 or N780,000 in 6 to 10 weeks by just investing N24000 for 2poeple. I joined in less than a month ago and have entered the board and will be cycling out to get a $6000 in no time by Gods grace, imagine what you could do with this kind of money in Nigeria. investigate this info and you'd discover its not a scam but its for real. when you make up your mind you can join this winning team now!!!
To Join: http://www.6k4you.com/6k.cgi/odedinasat/join.html
My Ref:
http://www.6k4you.com/odedinasat
cheers,
Prince
1 year and 3 months ago
well Dipo, has great lessons that the HYIPs need to heed. Dipson More power to your elbow
1 year and 4 months ago
@Mathew/ALL,
I have been away from these thread for a while too.
I still would apreciate infor about mortgages as in best rates from PMI, understand one could get somwthing better than banks rates
Cheers
1 year and 4 months ago
Testing!!!!
For some time and even few mins ago, I have been making attempt at posting on this NHF blog
This is testing only
Mathew
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