Shelter Finance Corporation Limited

Shelter Finance Corporation Limited (SFCL) is a specialized financial institution in Nigeria dedicated to addressing the critical need for affordable housing finance. Established to increase homeownership rates, particularly among low- and middle-income earners, SFCL operates as a mortgage refinancing company, facilitating access to long-term mortgage loans through partnerships with primary mortgage banks (PMBs) and other financial institutions.

SFCL’s core function is to provide liquidity to PMBs, enabling them to offer mortgages with longer tenors and more favorable interest rates than would otherwise be possible. By refinancing existing mortgage portfolios of PMBs, SFCL frees up their capital, allowing them to originate new mortgages and expand their lending activities. This creates a ripple effect, stimulating the housing market and making homeownership more attainable for a larger segment of the population.

The corporation’s impact extends beyond individual homebuyers. By supporting the growth of the mortgage market, SFCL contributes to the overall economic development of Nigeria. Increased construction activity generates employment, boosts related industries like building materials and home furnishings, and enhances tax revenue for the government. A stable and accessible housing market also promotes financial stability and social well-being.

SFCL’s operations are guided by principles of sound financial management and risk mitigation. The corporation adheres to strict underwriting standards and conducts thorough due diligence on its partner PMBs. This ensures the sustainability of the refinancing process and protects the interests of all stakeholders, including homebuyers, PMBs, and investors. Furthermore, SFCL is actively involved in promoting best practices in mortgage lending and encouraging responsible borrowing habits among consumers.

Looking ahead, SFCL is committed to expanding its reach and impact across Nigeria. The corporation aims to increase its refinancing volume, diversify its funding sources, and introduce innovative mortgage products tailored to the specific needs of different segments of the population. This includes exploring opportunities to support affordable housing projects, promote green building practices, and leverage technology to streamline the mortgage application and approval process. By continuing to play a vital role in the Nigerian housing finance ecosystem, Shelter Finance Corporation Limited is contributing to a future where homeownership is a reality for more Nigerians.