Sections
Poll: Budget distortion
Do you support the moves by Presidency through the Supreme Court to prevent the National Assembly from distorting 2009 budget?
Union Homes enters mortgage market with new product
Font size:
Home Equity Mortgage is a product that enables home-owners with good titles to grow wealth by unlocking the equity in their homes.
Uche Onyeabo, assistant general manager (AGM), Corporate Affairs of Union Homes who disclosed this to Business Day said that individuals wishing to invest in assets can convert a significant proportion of the value of their homes to liquidity to be able to finance the acquisition of the assets without losing ownership of the homes.
The new product, according to Onyeabo, is laden with benefits for prospective subscribers. Some of the benefits, he said, include immediate acquisition, ownership and possession of desired properties and assets; convenient cash-flow, installmental payments; zero initial down payment; long tenor, enhanced self-esteem and easy access to liquidity.
With this product, he “you can buy additional homes, stocks and shares, household equipment, automobiles etc,” adding that a prospective subscriber to this product can borrow as much as 65 percent of equity in the property with a maximum tenor of 10 years allowed for houses.
Onyeabo disclosed that application for Home Equity Mortgage is open to all prospective and existing customers of Union Homes. Others to apply, he added, are customers who are employees of companies who can borrow up to 10 years of their annual income; customers who are self-employed can borrow up to five years of their income; employees of companies with verifiable evidence of regular source of income duly confirmed by the employer, and self-employed persons with verifiable evidence of income.
Union Homes is a member of the Union Bank group and it is a leading mortgage finance institution quoted on the Nigerian Stock Exchange. The company is committed to supporting customers needs with its long standing experience in housing and mortgage finance which cuts across various segments of the market.
The company recently announced an unaudited profit after tax of N1.4 billion for the ninth month ended December 31, 2007 which represents 98 percent increase from its previous year’s performance
Uche Onyeabo, assistant general manager (AGM), Corporate Affairs of Union Homes who disclosed this to Business Day said that individuals wishing to invest in assets can convert a significant proportion of the value of their homes to liquidity to be able to finance the acquisition of the assets without losing ownership of the homes.
The new product, according to Onyeabo, is laden with benefits for prospective subscribers. Some of the benefits, he said, include immediate acquisition, ownership and possession of desired properties and assets; convenient cash-flow, installmental payments; zero initial down payment; long tenor, enhanced self-esteem and easy access to liquidity.
With this product, he “you can buy additional homes, stocks and shares, household equipment, automobiles etc,” adding that a prospective subscriber to this product can borrow as much as 65 percent of equity in the property with a maximum tenor of 10 years allowed for houses.
Onyeabo disclosed that application for Home Equity Mortgage is open to all prospective and existing customers of Union Homes. Others to apply, he added, are customers who are employees of companies who can borrow up to 10 years of their annual income; customers who are self-employed can borrow up to five years of their income; employees of companies with verifiable evidence of regular source of income duly confirmed by the employer, and self-employed persons with verifiable evidence of income.
Union Homes is a member of the Union Bank group and it is a leading mortgage finance institution quoted on the Nigerian Stock Exchange. The company is committed to supporting customers needs with its long standing experience in housing and mortgage finance which cuts across various segments of the market.
The company recently announced an unaudited profit after tax of N1.4 billion for the ninth month ended December 31, 2007 which represents 98 percent increase from its previous year’s performance
Add to:
del.icio.us |
Digg
del.icio.us |
Digg
Email to a friend
Print version
Plain textRate this article
Comments ( posted):
Post your comment