For sale: 3 Bedroom Terrace Duplex

3 bedroom Terrace For Sale Idera Scheme/ Capital Terrace Off Lekki Expressway Eleko Ibeju-Lekki Lagos selling for ₦78,000,000. See property details on PrivateProperty.ng or browse all our range of properties in Eleko Ibeju-Lekki Lagos

1, What is Mortgage
This is a form of loan giving by the bank to help clients pay for their house. This can help you buy at today's price instead of waiting to buy in one year when the price of the house might have gone up.

2, What is mreif mortgage:
Mreif is a form of mortgage introduced by the federal govt. Every other mortgage has an interest of over 20% but Mreif has an interest of only 9.75%. So if your clients gets 70m from the bank, they will pay back that money with a 9.75% interest rate.

3, Capital Terrace:
This is our project at Idera by Lekki-epe expressway Lagos. A 3 Bedroom Terrace Duplex selling at 78m naira.

4, How can my client buy Capital Terraces:

We have 2 payment plan currently for this project.
First, you can pay 78m naira in full. Secondly, you can pay 8m + 7m infrastructure and documentation then the bank pays the 70m naira balance via mreif mortgage and your client can pay the bank back this 70m with an interest rate of 9.75%.

5, What is repayment period for this mreif mortgage?

The repayment period is maximum of 20 years and the maximum age for it is 60 years. So if your client is currently 55 years, they only have 5 years to pay the bank back. If your client is 40 years old, that is 60-40= 20. That means they can get the full 20 years to pay back their loan.

6, How much deposit can be made for Capital Terraces?
The deposit is 8m + 7m= 15m
However, 8m can be paid first and then the balance 7m infrastructure and documentation can be paid before 3 months.

7, Will my client move in immediately after paying the complete 15m?
No, moving into Capital Terraces starts from March, 2026.

8, Can my clients abroad get mreif mortgage?
The answer is yes, the mortgage is accessible to clients all over the world.