Family Homes Fund Nigeria

Altair assists newly established housing vehicle in Nigeria

The chance to support an innovative organisation established to kickstart the Nigerian affordable housing market.

About the project

Family Homes Fund (FHFL) was a new organisation set up jointly by the Nigerian Government and the Nigerian Sovereign Investment Authority. Altair were commissioned to support FHFL in a review of the affordable housing system in Nigeria to develop a business model. This led to the preparation of a financial plan, business plan and governance structure.  Altair also aided in the negotiations of joint ventures, future debt funding and pension equity investment as well as different forms of tenure including purchase by instalments, rent to own and developing the mortgage market for outright sales.

Altair has a wealth of experience assisting foreign clients in establishment of affordable housing structures, so over the lifetime of the project that was split into three phases, were able to:

  • Support the FHFL review of the Nigerian Housing sector and provide integral support in the drafting of the FHFL Business plan and Business Model.
  • Design an affordable housing product (Help to Buy) and programme financial modelling.
  • Implement the Help to Buy while considering the constraints of the availability of debt finance, savings and household income for those households who come within the FHFL objectives.


Altair were able to:

  • Prepare a detailed implementation plan and legal agreements
  • Design a help to buy mortgage product
  • Select pilot mortgage bank partners
  • Project manage introduction of the mortgage product the market
  • Review joint venture and development loan finance agreements

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