What is it about?
The factors that constrain access to mortgages by urban households in Nigeria. These factors make it difficult for households to access mortgages to build or purchase homes., resulting in the use of mostly household incomes and savings and informal credit sources.These barriers are diverse and include low incomes and savings, high interest rates, poor access to land, inability of potential borrowers to provide formal evidence of land titles, inadequate loanable funds and inadequate number of mortgage lending institutions.
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Why is it important?
The paper provides insight into housing finance in an emerging market. Housing finance is one of the most difficult problems in Africa's housing markets and a major contributor to housing problems in African countries. The paper provides evidence base for housing finance market reforms in these countries
Perspectives
Writing this article was a great pleasure as it has enabled me to make my views on the important subject of mortgage financing public. I hope it will elicit attention of African governments in reforms in housing finance to improve access to housing by urban households.
Dr Chukwuma C Nwuba
Kaduna Polytechnic
Read the Original
This page is a summary of: Barriers to accessing mortgages in Nigeria’s housing markets, International Journal of Housing Markets and Analysis, May 2018, Emerald,
DOI: 10.1108/ijhma-10-2017-0089.
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