Mortgage banking is done by a specialised commercial bank dedicated to raising funds and providing loan facilities in which land or property is used as collateral.
Domineum makes mortgage banking in Nigeria easier by providing pace-setting technology that makes land ownership document or title easily accessible for mortgage financing.
Mortgage Finance is a type of bank loan in which property, land or real estate is used
as collateral for obtaining facility.
With mortgage finance, the borrower enters into an agreement with mortgage bank (lender)
and as such the borrower receives cash upfront then makes payments over a certain period of time until he pays back the lender in full.
Mortgages banking work in Nigeria in such a way that you enter into an agreement with a bank
to pay deposit for (usually reasonable part of) a property’s price, while the bank agrees to fund the rest over a certain period of time (mostly 25 to 30 years), thereby charging you interest on the funds it provides.
Domineum has come to relieve Nigerians of the hassle of registering their properties which has made using owned properties for accessing loan facilities cumbersome over the years.
If you register your land or property via Domineum platform, you can easily cash in on the property when you are in dire need without having to sell at unprofitable price.
Register your property with Domineum today, and you can expect to use the property to access funds without having to hurriedly dispose it.