Firm Unveils Indigenous Mortgage System In Lagos

A real estate firm, Harmony Garden and Estate Development Ltd has launched a rent-to-own housing solution, an indigenous mortgage system, designed for Nigerians at home and in the diaspora.

The initiative, Ibile Traditional Mortgage System, according to the initiator, Dr Saheed Mosadoluwa, offers an affordable path to homeownership by bypassing traditional banking hurdles, complex loan requirements, and soaring mortgage interest rates.

These challenges, he noted have long hindered average Nigerians from owning private property.

Speaking at the unveiling event, the CEO of Harmony Gardens Estate Development, Dr. Mosadoluwa said the initiative was beyond a housing scheme but a national movement toward dignity, stability, and generational wealth for Nigerians.

He added that it aligned with President Bola Tinubu-led government’s Renewed Hope Agenda in the private sector and home ownership synergy to harness indigenous enterprises to alleviate the challenges of Nigerians through real estate development.

“These projects ensure peace of mind for buyers seeking both investment security and lifestyle quality and align with the Federal Government’s Renewed Hope Agenda,” he said.

Spokesperson of the real estate firm, Gbolahan Adetayo told our correspondent at the event that, “We don’t just build houses. We build legacies for every hardworking Nigerian at home or abroad.

“Whether you’re a young professional, growing family, or returning diaspora citizen, the Ibile Traditional Mortgage System offers a pathway to secure, affordable, and dignified homeownership, without breaking the bank,” he said.

Adetayo assured that all the estates are situated in fully documented areas, backed by verified titles like government allocation, Certificate of Occupancy (C of O), and government gazette.

He said the houses include premium features such as Boys’ Quarters located in gated and secure communities across Lagos and beyond.