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Perception of Low Income Earners on the Performance of Mortgage Institutions in Housing Finance in Lafia, Nasarawa state, Nigeria

Author

Listed:
  • Iliyasu Ibrahim
  • Maryam Salihu Muhammad
  • Umar Auwal
  • Daniel Raymond

    (Abubakar Tafawa Balewa University)

Abstract

The problem of housing provision by the mortgage industry which includes financing has always being a major concern to the public as a whole. This study investigated the performance of mortgage institutions in housing finance for low-income earners in Lafia metropolis, Nigeria. The objective is to assess the performance of mortgage institutions from low-income earners’ perception. Data was collected through a questionnaire survey from 314 low-income earners randomly selected from the targeted population in Lafia metropolis. The data collected were subjected to descriptive statistics with mean ranking to examine the degree of agreement and the significance of the various variables. The study revealed that performance factors such as collateral, loan maturity period and loan requirement, etc. were highly ranked as the most performed area by mortgage institutions. It is recommended that government and stakeholders should reduce the high rate of interest, make mortgage loans accessible and affordable to low-income earners and also increase the funding of mortgage institutions. This study reinforces other research works on the performance of mortgage institutions in housing finance.

Suggested Citation

  • Iliyasu Ibrahim & Maryam Salihu Muhammad & Umar Auwal & Daniel Raymond, 2019. "Perception of Low Income Earners on the Performance of Mortgage Institutions in Housing Finance in Lafia, Nasarawa state, Nigeria," Traektoriâ Nauki = Path of Science, Altezoro, s.r.o. & Dialog, vol. 5(11), pages 2001-2011, November.
    • Handle: RePEc:pos:journl:52-1
    DOI: 10.22178/pos.52-3
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    References listed on IDEAS

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    1. Piyush Tiwari & Yoko Moriizumi, 2003. "Efficiency in housing finance: a comparative study of mortgage instruments in Japan," European Journal of Housing Policy, Taylor and Francis Journals, vol. 3(3), pages 267-288.
    2. Warnock, Veronica Cacdac & Warnock, Francis E., 2008. "Markets and housing finance," Journal of Housing Economics, Elsevier, vol. 17(3), pages 239-251, September.
    3. Piyush Tiwari & Yoko Moriizumi, 2003. "Efficiency in housing finance: a comparative study of mortgage instruments in Japan," European Journal of Housing Policy, Taylor and Francis Journals, vol. 3(3), pages 267-288, December.
    4. Buckley, Robert M. & Kalarickal, Jerry, 2004. "Shelter strategies for the urban poor : idiosyncratic and successful, but hardly mysterious," Policy Research Working Paper Series 3427, The World Bank.
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    More about this item

    Keywords

    Mortgage institutions; housing; finance;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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