ABSTRACT
Mortgage financing are structured financial arrangements provided byapproved financial institutions that accept real estate as security for theloan. Basically, mortgage financing is used to acquire or purchase ordevelop a property. However, it is also used to access the equity on anexisting property. This research work examined various mortgagefinancing policies in Nigeria, highlight their performance with a view toidentify the challenges inhibiting the optimal performance of themortgage financing structure in Nigeria and suggest the way forward. Themethodology adopted was a trend analysis of the various components ofthe policy measures of the sector. The research however, found that lowawareness about existing mortgage financial arrangements, low financingcapacity of the mortgage institutions and inefficient legal frameworkamong others, remained the major impediments to the growth of thesector. It recommended that identification of new sources of financing ofmortgage institutions, streamlining of legal documentation frameworkand an active participation of the private sector would position the sectorto perform optimally and contribute to the overall economy
TABLE OF CONTENTS
Title Page
Dedication
Declaration
Certification
Acknowledgement
Table of Contents
Table of Cases
Table of Statutes
List of Abbreviations
Abstract
CHAPTER ONE: GENERAL INTRODUCTION
1.1 Background to the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Research Questions
1.6 Research Methodology
1.7 Scope of the Study
1.8 Literature Review
CHAPTER TWO: CONCEPT AND EVOLUTION OF MORTGAGE FINANCING IN NIGERIA
2.1 Definition of Mortgage
2.2 Historical Overview of Mortgage Financing in Nigeria
2.3 Types of Mortgage Financing
2.4 Sources of Mortgage Financing
CHAPTER THREE: LEGAL FRAMEWORK FOR MORTGAGE FINANCING IN NIGERIA
3.1 Legal Regime for Mortgage Financing in Nigeria
3.2 Institutional Framework for Mortgage Financing
3.3 Economic Implications of Mortgage Financing
3.4 Structure of the Nigeria Mortgage Market
CHAPTER FOUR: PROSPECTS AND CHALLENGES
4.1 Prospects of Mortgage Financing in Nigeria
4.1.1 An Overview of Housing Delivery Policies in Nigeria
4.1.2 Government Functions on Housing Delivery
4.1.3 Assessment of Housing Delivery in Nigeria Today
4.2 Challenges of Mortgage Financing in Nigeria
4.2.1 Low Interest Rate on National Housing Fund
4.2.2 Low Level of Partnership in National Housing Fund
4.2.3 Macroeconomic Environment
4.2.4 Non-Vibrancy of Some Primary Mortgage Institutions
4.2.5 Cumbersome Legal Regulatory Frameworkfor Land Acquisition
4.2.6 The Structure of Bank Deposit Liabilities
4.2.7 Risk Sharing
4.2.8 Knowledge Gap
4.2.9 Taxes
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary
5.2 Conclusion
5.3 Recommendations
Bibliography
