RENT-TO-OWN SCHEME’LL COMMENCE SOON – LASG

     

The Lagos state government’s rent-to-own policy under the homeownership mortgage scheme will soon commence, the permanent secretary, ministry of housing, Mr. Olatunji Odunlami, he said. “we are finalishing the rent-to-own scheme: it takes some time  for the government to bring out a policy or programme because it must be looked at a meeting with allotees from the Mushin, Sangotedo and Igando scheme of Lagos HOMS. The rent-to-own scheme was intiated by the former governor of the state Mr. Babatunde Fashola to encourage resident to participate in the state’s housing scheme aimed at reducing shortage of homes. Under the scheme, those who cannot afford the equity for an outright purchase of a house will pay a rent for a specific period, which will go towards offsetting the cost of the housing. The permanent secretary said the state government was trying to expand the homeownership scheme as much as possible for people to key into.