Refuge Mortgage Bank Limited

Refuge Mortgage Bank Limited is a Nigerian mortgage bank incorporated in 1992 as a private limited liability company and licensed by the Central Bank of Nigeria (CBN) to carry on mortgage banking activities. It commenced operations in 1993. The bank is registered with the Federal Mortgage Bank of Nigeria Limited as an accredited vehicle for the disbursement of the National Housing Fund. In 2005 it was acquired by a new core investor who injected fresh capital, and the bank states that it is well capitalized beyond the mandatory level required by the CBN. The bank operates as a mortgage-focused financial institution, combining deposit-taking with mortgage lending and real estate services. Its licensed activities include granting loans for the purchase, building, improvement and construction of residential or commercial houses; opening and running mortgage-focused and other current accounts; accepting savings and fixed deposits from the public and paying interest; offering technical and financial advisory services for home purchase and construction; performing estate management duties; offering project consultancy services for estate development; and engaging in estate development through loan syndication. Refuge Mortgage Bank markets itself as a "mortgage one stop shop" for related activities. Its product range spans mortgage loans, commercial mortgage financing, mortgage construction finance, equity release facilities, and savings-based home ownership schemes. Notable consumer products include "Goodbye Landlord," a special savings account designed to help customers achieve home ownership through structured savings and strategic recommendations, and the "Rent to Own Advance" product targeted at employees of structured private-sector organizations and NGOs whose salary accounts are domiciled with the bank. The bank also serves schools through its School Building/Rent Finance and School Support Scheme products, which allow private school owners to access funds for expansion, renovation, property acquisition, salary payment, and laboratory and science equipment. Its flagship mortgage loan product allows individuals in paid employment or self-employment, as well as corporate organizations, to access funds to buy a dream home or corporate offices. According to the bank, the product offers obligor limits up to N50 million, tenors up to 10 years, competitive pricing, equity contribution up to 30%, and provision for refinancing through the Nigeria Mortgage Financing Company with a reduced rate and longer tenor. The bank also advertises online banking through its iBank platform and states that it is trusted by over 500,000 users. Refuge Mortgage Bank is headquartered in Nigeria and operates in the Nigerian market. It remains a privately held institution, having been incorporated as a private limited liability company and subsequently acquired by a core investor in 2005. The bank positions itself around home ownership, real estate finance, and mortgage-related banking services for individuals, corporations, and institutions.

Refuge Mortgage Bank Limited was incorporated in 1992 as a private limited liability company in Nigeria. It was licensed by the Central Bank of Nigeria to carry on mortgage banking activities and commenced operations in 1993. From its early years, the bank was registered with the Federal Mortgage Bank of Nigeria Limited as an accredited vehicle for the disbursement of the National Housing Fund, positioning it within Nigeria's official housing finance framework. In 2005, the bank was acquired by a new core investor who injected fresh capital into the institution. Following this recapitalization, the bank states that it is well capitalized beyond the mandatory level required by the CBN. This acquisition marked a turning point in the bank's ownership and capital structure, enabling it to expand its product range and market reach. Over the years, Refuge Mortgage Bank has developed a portfolio of mortgage and real estate finance products designed to serve individuals, corporations, and institutions. Its licensed activities include granting loans for the purchase, building, improvement and construction of residential or commercial houses; opening and running mortgage-focused and other current accounts; accepting savings and fixed deposits from the public and paying interest; offering technical and financial advisory services for home purchase and construction; performing estate management duties; offering project consultancy services for estate development; and engaging in estate development through loan syndication. The bank has positioned itself as a "mortgage one stop shop," designing risk asset products intended to drive profitability, deepen market reach, and build brand loyalty through liability retention. Its product lineup includes mortgage loans, commercial mortgage financing, mortgage construction finance, equity release facilities, and savings-based home ownership schemes such as "Goodbye Landlord." It also offers specialized products for schools, including School Building/Rent Finance and the School Support Scheme, and consumer products such as Rent to Own Advance for employees of structured private-sector organizations and NGOs. Refuge Mortgage Bank advertises online banking through its iBank platform and states that it is trusted by over 500,000 users. It remains a privately held Nigerian mortgage bank, operating under the regulatory oversight of the Central Bank of Nigeria and registered with the Federal Mortgage Bank of Nigeria for National Housing Fund disbursement.

• 2005

  The bank was acquired by a new core investor who injected fresh capital into the institution.

• 1993

  The bank commenced operations after being licensed by the Central Bank of Nigeria to carry on mortgage banking activities.

• 1992

  Refuge Mortgage Bank Limited was incorporated as a private limited liability company in Nigeria.

A mortgage one stop shop for home ownership, real estate finance, and mortgage-related banking services in Nigeria.

• Mortgage Loans

  Allows individuals in paid employment or self-employment and corporate organizations to access funds to buy a dream house or corporate offices. Features include obligor limit up to N50M, tenor up to 10 years, competitive pricing, equity contribution up to 30%, and provision for refinancing through Nigeria Mortgage Financing Company.

• Goodbye Landlord

  A special savings account that seeks to provide solutions for home ownership through structured savings, strategic recommendations and sound plans. The holder must generally maintain a specific balance based on the pre-determined monthly savings program.

• Equity Release Facility

  Offers individuals access to funds for their planned business expansion, working capital, and capital projects, using their property as collateral.

• Commercial Mortgage Financing

  Allows shop owners with duly proof of ownership to access funds to meet their business's working capital needs.

• Mortgage Construction Finance

  Provides funds to developers and individuals for existing projects, new ventures, and real estate profit-making enterprises.

• Rent to Own Advance

  A consumer loan product targeted at employees of structured organizations in the private sector and NGOs whose salary accounts are domiciled with Refuge Mortgage Bank to access funds to their dream house and pay over a period.

• School Building / Rent Finance

  Empowers schools to expand, acquire property, and meet rental needs. Loans can be paid back within a year for 'rent' and up to two years for 'purchase' at attractive interest rates.

• School Support Scheme

  Allows private school owners to access funds for expansion, renovation, property acquisition, salary payment, laboratory and science equipment, etc.

1. 1Get Banking, Mortgage & Financing with Refuge Mortgage Bankrefugebank.com.ng
2. 2About Us - Refuge Mortgage Bankrefugebank.com.ng
3. 3Our Products - Mortgage and Financing in Nigeriarefugebank.com.ng
4. 4Mortgage Loans - Get Loans from Refuge Mortgage Bankrefugebank.com.ng
5. 5REFUGE HOME SAVINGS & LOANS LIMITEDwikidata.org