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Impact Of Primary Mortgage Institution In Housing Delivery
[A case study of coop savings & loan limited]
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According to the representation, year 201 has the lowest approved grand total of 22 while 2009 has the highest approved and 2011 and 2012 approved was 222 and 176 out of the processed application
METHOD OF APPLICATION
Application must be made through coop life savings and loan limited and Meristem security
i. An application must be made on the official application form
ii. Subscription will commence from Monday, January 19, 2009 to march 20, 2009. Application must be made for a minimum of 10,000 share for which application is made and the full payment due in respect thereof by cheque or bank draft should be entered in the boxes provided
iii. Every application or joint application (as may be applicable) must write his or her full name, address and occupation on the application form. An application from a corporation must bear its seal and completed under the hand (s) of a dully authorized official (s) who should state his (their) designation
iv. An application from a person or provident fund must be in the name of each individual trustee unless the trustee is a limited liability company
CONDITION ATTACHED
1. Application must be made only on the private placement application form
2. The application form when completed should be forwarded directly to jubilee- life savings and loans limited marina old Kingsway building 2nd floor. PMB 12970, Lagos or meristem securities limited.
3. Application must not be less than the minimum units of shares and the multiples stated on the application form. The number of shares for which application is made and the amount of cash, cheque or bank draft attached should be entered in the box provided.
4. The application should make only application, whether in his own name or in the name of a nominee. Multiple or suspected multiple applications will be rejected.
5. Joint applications must sign the application form
6. An application from a cooperation must bear the cooperation seal and be completed under the hand of a duly authorized official (s) who should also state his or their designation (s)
1.6 DEFINITION OF TERMS
Housing:- Is defined as shelter or structures of dwelling which include residential environment, neighborhood, micro district provided with all necessary services and facilities equipment useful for man’s living.
Development: - this is the carrying of an operation or construction work which is associated with a change in the use of land or with a re-establishment of existing use such as alteration, erection or re-erection of building roads and sewage e.t.c
Developers: - this could be an individual corporation or institution or group of individual of engineering or building works. Developers can be grouped into two namely private and public developers.
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