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A Survey Of The Effect Of Mortgage Institutions In The Provision Of Affordable And Sustainable Housing In Nigeria
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1.4 RESEARCH QUESTIONS
i) Does mortgage institutions helps in provision of affordable and sustainable houses in Nigeria?
ii) Does mortgage institutions contribute in financing construction industry?
iii) Does mortgage institutions helps in carrying out housing estate in Nigeria. ?
1.5 SIGNIFICANCE OF THE STUDY
This
study was carried out with participant in the housing sector especially
developers in mind that they will find this work useful to reduce
difficulties involves in obtaining finance for housing development.
Researchers would also find this work relevant as a reference literature
in carrying out their research work.
Finally, that Nigerians will
also be of immersed benefit in the sense that they will be able to know
how finance can be sourced for housing development.
1.6 SCOPE OF THE STUDY
This study covers the major effect of mortgage institutions in the
provision of affordable and sustainable houses in Nigeria. And also it
plays the role to provide low cost housing loans that are accessible
even to the low income earners.
However, during the progress of this work, some other relevant mortgage institutions were mentioned.
1.7 LIMITATION OF THE STUDY
During
this study, a great limitation were experienced in obtaining suitable
materials on this study, because of the reluctance of owners of these
materials and some cases their staff to create time to search for them
and give out. In some cases, they were too busy to give the necessary
help due to their harmonious engagement.
Some respondents need
constant remainders by the researcher before they could complete the
questionnaires and this consumer extra cost of transportation and time
while some were returned unfilled and this caused the researcher
starting all over again to look for other respondents to fill and answer
them.
1.5 DEFINITION OF TERMS
According to dictionary.com
1) Effect: Is a change that is a result or consequence of an action or other cause.
2)
Mortgage: This a legal agreement by which similar organization lends
money to secure a house etc, and also pay the money back over a
particular number of years.
3) Affordability: Sufficient money or time to be able to buy or do something.
4)
Sustainability: This is based on a simple principle: Every thing that
we need for survival and well-being depends either directly or
indirectly or our material environment.
5) Housing;
These are houses, flats/apartment, etc that people lives in, especially
when referring to their type, price or condition.
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