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Product Category: Projects
Product Code: 00000574
No of Pages: 89
No of Chapters: 5
File Format: Microsoft Word
Price :
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ABSTRACT
Housing in most countries of the world is an
important economic sector and the manner in which resource are mobilized for
has a major effect on the economy. Despite the knowledge of the importance of
housing, ownership or accessibility to decent houses and mobilization of
resources remain a problem in
TABLE OF CONTENTS
Title page
Certification
.......................................................................................i
Dedication
......................................................................................ii
Acknowledgement ..........................................................................iii
Table of contents
.............................................................................iii
Abstract
............................................................................................iv
CHAPTER ONE
1.0 Introduction
..........................................................................1
1.1
Background of the study ....................................................1
1.2
Statement of problem
..........................................................3
1.3
Aim and objectives
................................................................3
1.4
Research Question
...............................................................4
1.5
Significance of the study
......................................................4
1.6
Scope of the study
................................................................5
1.7
Limitation of the study
........................................................5
1.8
Definition of terms
...............................................................6
CHAPTER TWO
2.0
Review of Related Literature....................................................7
2.1
Concept of mortgage
.....................................................................7
2.2
The Structure of the
2.3
The Central Bank of
2.4
Historical background of mortgage Institutions in
2.5
Concept of mortgage
finance..............................................10
2.6
Mortgage Institution in
2.6.1
Insurance companies
...........................................................11
2.6.2
Specialist Institution
..............................................................12
2.6.3 State/Municipal
Government Financing ......................................12
2.6.4 The
Federal Mortgage Bank Of
2.6.5 Primary
Mortgage Institution (PMI).............................................13
2.5.5 The
Federal Mortgage Finance Limited (FMFL).........................14
2.6.7 National
Housing Fund (NHF) ..................................................15
2.7 Mobilization
Of Funds...................................................................16
2.7.2 Mandatory
Scheme ................. ......................................................17
2.7.3 Government Budgetary Allocation And Financial
Transfer ....18
2.8 Housing Finance In The Non-Formal Sectors
.............................19
2.9 The Impact Of Mortgage Institutions In
2.9.1 Access to Long Term Loans For Housing
Development .........21
2.9.2 Accessibility
to Decent Houses................. ...................................21
2.9.3 fund
mobilization to applicant ................. ....................................22
2.9.4 Reduction
in the rate of abandoned projects .............................22
2.9.5 Reduction
in the Rate Of Unemployment................. .................23
2.10 Problems
of Mortgage Institutions In
2.10 Interest
Rate and Loan Value (LTV) Ration ............. .................23
2.10.2
Level of Participation In The NIIF............. ...................25
2.10.3
Macroeconomic Environment............. ..........................25
CHAPTER THREE
3.0
Introduction ............. ............................................................60
3.1
Research Area ............. .........................................................60
3.2
Population of the study............. ............................................60
3.3
Research design............. .......................................................61
3.4
Sampling size and sampling procedures............. ................61
3.5
Method of data collection ............. ......................................62
3.6
Sampling techniques............. ...............................................62
3.7
Instrumentation ............. ..................................................63
3.8
Method of data Analysis ............. .......................................64
CHAPTER FOUR
4.0
Data presentation, Analysis and findings ............. ..........66
4.1 Presentation
of data............. .................................................66
4.2 data
Analysis / Evaluation ............. .................................67
CHAPTER FIVE
5.0 Summary,
conclusion and Recommendation
5.1
Summary of findings ............. ..........................................74
5.2
Conclusion ............. ............................................................75
5.3
Recommendation ............. ................................................76
5.4
Area of further study............. ...........................................77
References............. .............................................................79
Appendix ............. ................................................................83
Questionnaires
............. .....................................................84
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY:
Housing provides more than shelter for man because
it encompasses all social services and utilities that are needed for a livable
environment in order for any community to be worth living in housing accepted
in man’s hierarchy of need to be next to food.
Odetundun (1995) affirmed that housing in most
countries of he world was an important economic sector and the manner in which
resources were mobilized for housing had a major effect on the economy.
Fundamental to the provision of adequate housing in qualitative terms is the
availability of housing finance. According to Olutuah (2001) housing quality in
As Muoghalu (1987) observed, housing poverty is
determined by the mobility to afford standard housing thus, the provision of
adequate housing is hinged on the accessibility of housing finance. In
As parts of the efforts in addressing housing
problems in
1.2 STATEMNT OF THE PROBLEM
The basic problem of mortgage institutions could be
viewed from the following
·
Increase in
capital requirement
·
High interest
rate
·
Management
adequacies.
1.3 AIM AND OBJECTIVES OF HE STUDY
The aim of the study is to access the effect of
mortgage institutions in the provision of affordable and sustainable houses in
The objectives of this study are:
1)
To identify the
various functional / operational mortgage institution in
2)
To identify and
evaluate the effect of mortgage institutions in the provision of affordable and
sustainable housing in
3)
To identify the
hindrances facing mortgage institutions in
1.4 RESEARCH QUESTIONS
i) Does mortgage institutions helps in
provision of affordable and sustainable houses in
ii) Does mortgage institutions contribute in
financing construction industry?
iii) Does mortgage institutions helps in
carrying out housing estate in
1.5 SIGNIFICANCE OF THE STUDY
This study was carried out with participant in the
housing sector especially developers in mind that they will find this work
useful to reduce difficulties involves in obtaining finance for housing
development. Researchers would also find this work relevant as a reference
literature in carrying out their research work.
Finally, that Nigerians will also be of immersed
benefit in the sense that they will be able to know how finance can be sourced
for housing development.
1.6 SCOPE OF THE STUDY
This
study covers the major effect of mortgage institutions in the provision of
affordable and sustainable houses in
However, during the progress of this work, some
other relevant mortgage institutions were mentioned.
1.7 LIMITATION OF THE STUDY
During this study, a great limitation were
experienced in obtaining suitable materials on this study, because of the
reluctance of owners of these materials and some cases their staff to create
time to search for them and give out. In some cases, they were too busy to give
the necessary help due to their harmonious engagement.
Some respondents need constant remainders by the researcher
before they could complete the questionnaires and this consumer extra cost of
transportation and time while some were returned unfilled and this caused the
researcher starting all over again to look for other respondents to fill and
answer them.
1.8 DEFINITION OF TERMS
According to dictionary.com
1)
Effect: Is a change
that is a result or consequence of an action or other cause.
2)
Mortgage: This a
legal agreement by which similar organization lends money to secure a house
etc, and also pay the money back over a particular number of years.
3)
Affordability:
Sufficient money or time to be able to buy or do something.
4)
Sustainability: This is
based on a simple principle: Every thing that we need for survival and
well-being depends either directly or indirectly or our material environment.
5)
Housing; These are
houses, flats/apartment, etc that people lives in, especially when referring to
their type, price or condition.
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