We Are Meeting The Housing Needs Of Deltans –Ureki

By Andrew Ikehi
Delta Trust Mortgage Finance Limited is a mortgage financial institution owned by the Delta State government established principally to address the housing challenges, of its citizenry.
Established 12 years ago, precisely year 2000, the bank, no doubt has recorded laudable achievements in addressing the housing needs of Deltans, particularly Civil Servants.
Mr. Wilson Ureki is currently the Managing Director and Chief Executive Officer (CEO) of the bank. In this interview with THE POINTER Business Editor, ANDREW IKEHI, he spoke on the achievements so far, the challenges and prospects, with strong advise on Deltans, particularly Civil Servants to avail themselves the opportunity offered by the bank to address their housing needs.
Excerpts.
May we meet you formally sir?
Thank you very much; you are welcome to Delta Trust Mortgage Finance. My name is Wilson Ureki, I am the Acting Chief Executive Officer.
What are some of your product or perhaps services here at Delta Trust.
As you are aware, Delta Trust Mortgage Finance Limited Is 100% own by Delta State Government. It is a finance mortgage institution enacted by the Federal Government of Nigeria, to carry out mortgage and banking transactions. We have various products that are available to our customers. Our loan products include: National Housing Fund (NHF) which every worker in the state is entitled to access through us because they contribute 2.5 per cent of their basic salary to that fund. The fund is being managed by Federal Mortgage Bank of Nigeria. We have Commercial Mortgages – That is for those who want to develop commercial houses, even individuals who want to have his or her own car, but the difference is that the National Housing Fund has an interest rate of six percent while our commercial mortgage loan attracts daily market rate. That is for the two. Of course, we have DTSalary advance which is meant for Salary earners. If one is broke for instance or has an urgent need to solve some domestic issues before his or her salary arrives, such an individual can approach us for such service – salary advance when the salary is paid, automatically, we will regularize the account. There is also what we call DTRent. One of the challenges we noticed among our people is that it is difficult for them to pay their rent. So when rent is due, the landlord pushes them here and there. That of course is why we came up with this product that once ones rent is due and the money is not readily available, such an individual can come to us and we will give him / her the needed services that will enable him or her pay the rent. The loan will be spread to a period of between 12 to 18 months. Lastly on the loan product, we have what we call DTLEP(Life Enhancement Products). That product is essentially tailored toward our customers who wish to procure household equipment, such as gas cookers, T.V. furniture etc. We have loan package for our customers who wish to do that. It comes under our DTProduct. We call it life enhancement product. It is purely for household items, we can even furnish your house for you and the loan would be spread into months. In essence, we can equip your house, while you pay As You Go.

Aside the loan product, we also have the deposit product. In the deposit product, the principal product is tagged Home ownership Account. This is an account that is meant for who ever that has the dream to own a house. You and I know that the desire of every person on planet earth is to have a roof over his or her head. So, we create that product so that the customer could contribute 10 percent of the value of his or her house to enable the customer access 90 percent loan to build his/her house. If for instance your house will cost you about five million naira (N5, 000,000:00) you are expected to save up to five hundred thousand naira (N500, 000:00). After which, we give you a loan of N4.5 million to enable you build the house, renovate or out-right purchase of a new house. That is the essence of that account. The account enables you build, renovate or buy a house out rightly.
More so, we have our regular Savings Account. This is the same as what is obtainable in other commercial banks. We have the target account. This account could serve the purpose of periodical festivity, such as Christmas, Pilgrimage; it is a flexible account that allows quarterly withdrawal. It is structured in such a way that withdrawals are allowed quarterly, once in a while. The account holder however would be allowed access to the fund in between periods. We also have a thrift account otherwise called “Esusu” – this is for market women as well as for co-operatives, those who are into businesses. They save their monies there at reasonable interest rates. The interest rate in that account is different from the regular interest rate. It is higher because it is business account that gives you a kind of reward with higher interest at the end of the period. We also have the regular current account for salary earners and business individuals. We have DTchildren Account. In that account, the customer prepares his/her children towards the future. You save for their future for instance, if one has a new born baby, after the naming ceremony, for instance, all the gift that would be given to the child, the parents could decide to be saving the that money in the account. Before the child attains the age of 18, he or she would have had reasonable amount of money in the account for his or her up keep / education.Basically, that is the two types of accounts we operate here at Delta Trust Mortgage Finance Bank, the loan product and the Deposit product. However, we have other services which we render such as Exchange Development Financing. You would recall that some time ago, we were providing quick