About Lagos HOMS
In line with its promise to stimulate investment in home ownership by increased access to affordable mortgage finance, the Lagos State Government is pleased to introduce the Lagos Home Ownership Mortgage Scheme (Lagos HOMS) - a stimulus package for equity-supported access to home ownership that will provide the framework for a sustainable mortgage scheme in Lagos State.
The Lagos State Government will continue to provide decent and affordable housing units of various types and sizes for purchase by residents of Lagos State. Upon completion, these houses will be handed over to the Lagos State Mortgage Board (“the LMB”) to administer under the Scheme. The LMB has the power to issue and execute policies and regulations for the effective implementation of Lagos HOMS.
Create a conducive environment for affordable Housing acquisition with access to reasonable finance for the residents of Lagos State
To ensure the provision of affordable Housing in Lagos State by simplifying the process of acquisition of homes and protecting the Citizens from unethical practices.
The Ministry of Housing, New Towns Development Authority (“NTDA”) and LSDPC are tasked with the creation of housing stock to bridge the housing supply gap of sustaining Lagos HOMS.
Upon completion, these houses will be handed over to the Lagos State Mortgage Board (“the LMB”) to administer under the Scheme.