Nigeria: Stanbic IBTC Bank unveils tailored mortgage solution for salary earners

Stanbic IBTC Bank, under Stanbic IBTC Holdings, has introduced a Specialised Mortgage solution, aiming to overcome the hurdles faced by salary earners in securing mortgage finance.

By capitalizing on the recent policy update from the Pension Commission (PENCOM), individuals contributing to their pensions can now utilize a portion of their retirement savings as equity for a mortgage. This distinctive product opens up a more accessible route for individuals to achieve homeownership.

In acknowledgment of the obstacles that salary earners encounter in obtaining mortgages, Stanbic IBTC Bank has proactively taken a significant stride to narrow the gap and empower pension contributors in realizing their housing aspirations.

Through the Specialised Mortgage solution, pension contributors now have the opportunity to utilize a portion of their retirement savings as an equity contribution for securing a mortgage. This innovative approach enables individuals to access affordable mortgage finance, featuring more flexible terms and conditions, thereby simplifying the path to homeownership.

Chief Executive, Stanbic IBTC Bank, Olu Delano, expressed his excitement about this initiative. He said, “We are thrilled to introduce the Specialized Mortgage solution, which addresses the challenges faced by salary earners in accessing mortgage finance and allows them to use their retirement savings for a meaningful purpose. This unique product reflects our commitment to empowering clients and supporting their long-term financial goals.”

As one of Nigeria’s leading financial institution in Nigeria, Stanbic IBTC Bank offers cutting-edge financial solutions customized to meet the distinct needs of its clients.