The Federal Mortgage Bank of Nigeria, (FMBN) has granted a N236 million naira loan to Pertrust Property and Investment Development Company, as part of a grand scheme to boost the provision of affordable houses in the country.

According to information gathered from the company, the facility was procured under the Estate Developers' Loan Scheme of FMBN after due recognition of the proven track records of Personal Trust Savings and Loans Limited, (the parent company of Pertrust Property and Investment Company).

Work, according to the management of Pertrust, has begun in earnest at the Lakeview Estate, where about 100 units of two-bedroom and three-bedroom unit flats are being constructed.
The Lakeview Estate is located at Amuwo-Odofin a suburb of FESTAC Town Lagos. When completed, the Estate would have neighbourhood shopping and recreational facilities in addition to good road network and standard drainage.

Provision for regular electricity includes the dedication of transformers for the sole use of the estate and a well-landscaped area to complement the modern architectural designs with streetlights in tow.
Above all the company stated that the issue of security would not be taken lightly, as it has in its plan solid perimeter fencing in addition to other stone cast security measures that would be necessary.

Furthermore, it assured prospective homeowners under the scheme that perfect title deeds would be guaranteed.
The Lakeview Estate is designed for middle-income earners in the public and private sector. We learnt that the two-bedroom flats would be offered for N5, 000,000 while the three-bedroom apartments would sell for about N6, 000,000.

Payment, it added has been made relatively easy by the ingenious financial engineering skills of the management, which would ultimately broaden the access to the houses by many who may wish to buy.
Explaining the terms of payment, the management said that contributors to the National Housing Fund, (NHF) Scheme would be required to make 10% down payment on the cost of the house and the balance would be spread overtime in accordance with the terms of the Government mortgage loan scheme.

However, those who are outside the National Housing Fund (NHF) would be required to make the same 10% down payment, but they would be required also to complete their payment on or before the completion of the project.

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