The Lagos State Government plans to de-risk the housing and mortgage sector, unlocking its potential for economic growth by incorporating foreclosure law into its mortgage and property policy. The mortgage and property law seeks to encourage growth in real estate and regulate consumer loans for property realisation in the state. xThe state has already assured financial institutions, including banks that there will be returns on their investments in mortgages, after the amendment of the State’s Mortgage and Property Law. The Special Adviser to the Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka, made this known in Ikoyi, Lagos, during a roundtable discussion on the incorporation of Foreclosure Law into the state’s Mortgage and Property Law. He stressed the need for enormous investments in real estate to make housing available and affordable, adding that government cannot do it alone.

Source: The Guardian July 05, 2021 04:07 UTC