HouseMoni to revolutionise homeownership in Nigeria
Growth and Development Limited (GDL) has introduced HouseMoni, a groundbreaking rent-to-own homeownership scheme designed to make homeownership more accessible to Nigerians.
The scheme offers flexible payment options, a fixed interest rate of 9.9 percent, and insurance coverage against unforeseen events. Customers can contribute to the scheme using their regular income, Retirement Savings Accounts (RSAs), windfall income, or even rent payments.
GDL’s Executive Vice Chairman, Mr. Kola Ayeye, highlighted the broader economic impact of HouseMoni, stating that it aims to expand the middle class and foster community development.
The Lagos State Government has expressed support for the initiative, with the Commissioner for Housing, Moruf Akinderu-Fatai, praising GDL’s efforts to provide affordable housing. The Federal Housing Authority (FHA) has also commended HouseMoni’s solid foundation and expressed interest in partnering with GDL.
HouseMoni represents GDL’s commitment to creating a financial system that works for everyone, and the company aims to help 1.5 million people become new homeowners within 10 years.
Our audacious goal is to help 1.5 million people become new homeowners within 10 years.”
The launch of HouseMoni has garnered significant attention and support from key stakeholders, including the Lagos State government.
The Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, praised GDL’s initiative and expressed the state’s interest in collaborating with private sector players like GDL to finance affordable housing for residents. He highlighted the state’s efforts in delivering 19 housing schemes in the last five years and its ongoing projects aimed at providing affordable housing for first-time buyers.
Similarly, Ezekiel Nya-Etok, Executive Director of Estate Services at the Federal Housing Authority (FHA), commended HouseMoni’s robust foundation. He stressed the importance of sustainability and integrity in housing projects, noting that the FHA is committed to partnering with institutions like GDL that prioritize these values.
HouseMoni is more than just a financial product; it is a testament to GDL’s mission of evolving financial solutions that strengthen the middle class and promote shared prosperity in Nigeria. By providing access to sustainable homeownership financing, GDL aims to broaden the middle class, foster community development, and contribute to a more vibrant economy.
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