With all the panic about Enola sweeping the country and the world, everyone seems to be on red alert about touching other people or even just breathing in the same air as them or God forbid, them sneezing or coughing near you. In all its seriousness, there are still causes for amazement when the driver turns up late, frantically chewing kola nut because he claims he was bathing in salt water as prevention against Ebola, or the Security men at the gate of an estate wearing winter wool gloves to hand you the visitors book and pen. I had to visit a vacant newly completed block of flats in Lekki this week and on getting there, I found the gate open and no gateman around, the gateman two doors away came rushing up to me and whispered that the gateman was inside the building and had been sick for a few days and no one was going near him for fear that it may be Ebola, you should have seen me practice Michael Jacksons fast Moonwalk and hot foot it to my car, whipping out my bacterial wipes to clean my hands, even though I had touched nothing. This panic is all a bit out of control, but we should be safe rather than sorry. I have actually cut back on my visits especially where it is a busy work sites. The truth is that the fear of Ebola, is the beginning of wisdom to many Nigerians. As I write this article, the virus has claimed its third victim, with many more quarantined. Those practicing in the Real Estate market, need to be very careful about interactions and staff safety
It was in the papers this week that the Nigerian Mortgage Refinancing Company(NMRC) which is a private sector company is being set up to encourage financial institutions to increase their mortgage lending by providing them with long term funds and assist in reducing mortgage rates. It has set 20 percent as the minimum equity contribution banks must consider when a loan application is made, if an applicant is to be considered for a home loan, of course earnings and assets will contribute to the acceptance, and the lease must be at least 20 years to work. It will take at least six months for loans to be granted.
I sincerely hope this will all become clearer as they start, as prospective home buyers are in need of financial help to secure their own homes.