PropertyBank, a leading real estate marketing brand, has launched an innovative rent product solution, "Rent Actuation" specially created for home seekers who cannot afford their rent at the moment.
This innovation is packaged under a working agreement between PropertyBank and TrustBond Mortgage Bank Plc., which offers 80 per cent to rent a house at any location in Lagos and Abuja.
PropertyBank is an online real estate marketing platform with a arrays of properties covering residential, commercial, industrial properties, warehouses, and plots of land.
Rent seekers who are currently unable to afford their choice of properties can now live in their choice houses by contacting PropertyBank for options of houses selectable from the platform while TrustBond Mortgage Bank Plc. will provide funding.
Under the product, the subscriber will contribute 10 per cent minimum equity contribution with no collateral. One year rent is repayable within 6 to 9 months while two years rent is repayable within 12 to 18 months. The disbursement of funds is subject to meeting terms and conditions of TrustBond Mortgage Bank Plc.
According to a senior official of PropertyBank, “Trust Bond’ is our mortgage banker with a National mortgage banking license with offices in Lagos and Abuja. Their presence in these cities gives residents the opportunity to access rent loan for properties provided by PropertyBank."
PropertyBank, owned by Property Vault Limited offers an online tool that guides home-buyers through the process of owning a home, and renting an apartment. The platform owners have weeded out fraudulent acts as they intend to finalize the offer, negotiates with the listing agent and coordinates closing.
"With www.propertybankng.com you can search for your perfect home to buy or rent by area, price and property type; call, chat or mail our agents for further information, clarity and enquiries as well as schedule visit time to see desired properties,"
According to the Chief Executive Officer, Property Vault Limited, Mr. Andy Morkah, "the goal of the Rent Actuation plan is to empower consumers with the most thorough information in the market and bring them in direct contact with the agents.
"At PropertyBank, we help you find your perfect property. Our listings aim at providing you with as much information as possible and an in-depth insight on each property. Our Agents are well equipped and they have the direct mandate for each property straight from the owners, bringing greater efficiency to the Nigerian real estate market. Searching for properties and full acquisition have been made easier, transactions can now be concluded in a maximum of 48hours."
Mr. Morkah explained that the online brokerage firm has signed-on properties from developers and direct brief agents within Lagos and Abuja and have generated more than 7,000 properties in the portal. "Our competitive edge is our in-depth service delivery, as well as our team of seasoned professionals united by a firm resolve to deliver decent housing to Nigerians,” he said.
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