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.
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