Governor Babajide Sanwo-Olu has presented Exit Certificates to first beneficiaries of the Lagos Home Ownership Mortgage Scheme who have completed their 10-year payment obligations.
The certificate now fully conferred the ownership rights of the properties on the beneficiaries, following the completion of their mortgages.
Governor Sanwo-olu who highlighted the success of the scheme in reducing housing deficit said no less than 20,000 Lagos Residents had subscribed to this rent-to-own scheme since 2014.
The Governor then presented a new redemption policy which allows early exit for allottees who have spent at least six years in the scheme and can pay off their balance.
Sanwo-Olu also named the Ilupeju LagosHOMS project after the late Oba Mufutau Olatunji Hamzat – an elder statesman, political leader in Mushin and father of the deputy governor.
