Top 10 Best Mortgage Banks in Nigeria

A mortgage is an debt instrument, secured by the collateral of specified real estate property, that borrowers will pay back with a pre-determined set of payments. Mortgages are also known as, ‘claims on property’. Here we shall look at the best mortgage bank in Nigeria.

Best Mortgage bank in Nigeria

Do you intend on purchasing your own property (real estate and houses)? Mortgage banks are the preferred financial institutions for you.

Are you looking for financial institutions that offer the best mortgage banking services in Nigeria, and are totally reliable? This article gives you a ranking of the top 10 mortgage banks in Nigeria that have been properly registered by the Central Bank of Nigeria, and can be totally relied on.

Top 10 Best Mortgage Banks in Nigeria

1. FBN Mortgage Limited

This is one of the best options in offering good mortgage services in Nigeria. The aim of this institution is to consistently give the best mortgage banking services, and products that reflect its dominance of its parent-First Bank in the financial industry in the country.

They are committed to helping their growing clients by providing a wide range of mortgage and real estate financing solutions. They make homeownership and real estate development a lot easy for their customers.

2. Abbey Mortgage Bank Plc.

This bank is arguably the best, largest, and most profitable mortgage bank in Nigeria. They offer various mortgage and investment products coupled with the guidance and advisory services they render to corporate organizations, including individuals to enable them access housing finance.

The bank got its license from the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria (FMBN), together with seven other National Primary Mortgage Banks (PMB). It was also accredited for the National Housing Funding (NHF) on lending facilities.

3. Platinum Mortgage Bank Limited

The Platinum Mortgage Bank Limited (initially known as Platinum Home and Mortgage Limited) was incorporated in 1992 with the Corporate Affairs Commission. Its objective is to provide loans, savings, and home ownership services, with license from the Central Bank of Nigeria, and the Federal Mortgage Bank of Nigeria.

It was restructured into a quality-assurance primary mortgage institution backed by innovative products, services, essential professional management, and latest information technology.

It has its administrative headquarters in Lagos, with branches in other places in the country.

4. Safetrust Mortgage Bank

This is one of the leading primary mortgage banks in Nigeria. It was established on November 2nd, 1992, but commenced its operation about a year after with the aim of providing top notch mortgage banking services to its numbering customers.

Was licenced by the Central Bank of Nigeria, and accredited by the Federal Mortgage Bank of Nigeria for the disbursement of the National Housing Fund (NHF) loans to contributors.

Its ownership is diversified, with shares owned by institutional investors, high net-worth individuals, as well as professionals in various industries.

5. Trustbond Mortgage Bank

In the wake of the revision of the capital structure of banks in 2005, the establishment of Trustbond Mortgage Bank emerged.
They operate in all states of the country with headquarters in Lagos State. It is a highly connected financial firm that has a present paid up capital of over N5billion.

6. Federal Mortgage Bank of Nigeria (FMBN)

The FMBN has the responsibility of establishing, promoting, and developing of other mortgage institutions at both the Federal and state levels. It also gives license to mortgage banks that wish to operate in Nigeria.

It was set up in 1956 as a joint venture of the Commonwealth Development Commission, and the Federal and Eastern Governments of Nigeria. And it was known then as Nigerian Building Society (NBS).

Today it operates as an effective tool for increasing the mobilization of long-term funds, lending volume, and the expansion of mortgage lending services.

It provides access to long-term credit services to other mortgage bank at a standard rate that empowers other mortgage institutions to be able to grant loans to intending individuals wishing to purchase their own houses. This is its core function.

7. Lagos Building Investment Company

The objective of the Lagos Building Investment Company is to provide mortgage finance facilities to allottees to the various Low-Cost Housing Schemes built by the state government between 1979-1983. And it was established February 14th, 1980.

LBIC has contributed greatly to housing development in the state with the creation of over 22,000 mortgages across Lagos State.

8. Resort Savings And Loans

With over 20 years of operational experience, this institution aims at providing service, creating mortgages assets and other credit facilities for its customers.

Their reputation, acceptability, and achievements have grown steadily over the years.

Its corporate head office is at 25, Olowu Street, Ikeja, Lagos, with branches in other parts of the country.

9. Akwa Savings And Loans Limited

This mortgage bank is wholly owned by the Akwa Ibom State Government. Was established on 25th January, 1993 with fully paid up capital of 20million naira.

Regardless of its ownership by the state government, it is open for non-indigenes to do their mortgage banking.

Its headquarters is at plot 1, Block 1, Federal Housing Estate, Abak Road, Uyo.

10. Aso Savings And Loans

It was established 9th November, 1995. Provides mortgage banking products and also offers a range of transactional accounts, fixed deposits and financial loans, and e-banking solutions such as mobile and desktop banking.

Its head office is located at Plot 266, FMBN building, Cadastral Zone A, Central Business District, Abuja.


If you are looking for quality products and services that can give you good options in mortgage banking in Nigeria, these are the financial institutions to look out for.

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