In a bid to bring world class housing transformation to the city of Port Harcourt in particular and other cities of the South South region in general, a mortgage finance firm, UT Financial Services Limited, has decided to extend its services in the property market to the region.
This was disclosed by the Chief Executive Officer of the company, Mr. Ade Adebajo, while addressing correspondents in Port Harcourt recently. He noted that the property market as it is presently constituted has not actually addressed the difficulty people encounter while accessing loans for mortgage.
“UT Financial Services Limited is one of the leading financial services providers in Nigeria, with offices in Lagos and Abuja and is being regulated by the Central Bank of Nigeria (CBN).
We support Small and Medium Enterprises to help them grow by giving out loans to enhance their businesses and has also now ventured into housing to give loans for mortgage and housing development by corporate organisations and individuals,” Adebajo said.
He further noted that the company is already arranging a prime location in Port Harcourt to commence the building of homes, which will be given out at moderate prices, under the umbrella of UT homes scheme,which is already in operation in Abuja and Ghana.
“Our target is the low and medium income earners, like the teachers, civil servants and those that have small business, and our mortgage period is for 10 years.
“What stands us out is that our rate is the lowest so far and we try as much as we can to ensure that our rate is very low so as to minimize default.
“We are not targeting the high income earners and we also engage with government by providing finance to execute government projects or source for loan for government projects to be executed,” he said.
Adebajo also added that the company will liaise and cooperate with the state government in its efforts to bring about more value to the already existing status of the housing sector for the purpose of more modern transformation.
UT Financial Service Nigeria Ltd (UTFSNL) commenced operation in Nigeria in April 2009 as a Non-Bank Financial Institution licensed by the Central Bank of Nigeria. It is a prestigious subsidiary under the UT group of companies, and has a a new management filled with experience, vibrancy and a new drive.