3.1.1 Traditional Lead Sources

• Referrals from satisfied clients — most reliable over time; word-of-mouth carries particular weight in Nigeria
• Estate agent and developer partnerships — agents and developers send buyers needing financing
• Employer partnerships — federal civil service, banks, oil companies, telecoms; staff cooperatives
• Professional network referrals — solicitors, valuers, accountants

3.1.2 Digital Lead Generation

• Website with mortgage calculator and SEO
• Social media — Instagram, Facebook, LinkedIn, Twitter/X
• WhatsApp Business — dominant communication platform in Nigeria; automated replies, labels, document sharing
• Content marketing — blog posts, videos, webinars

3.1.3 Developer and Institutional Partnerships

• Off-plan property sales (Lekki, Abuja satellites, Port Harcourt, Ibadan)
• Government housing programmes (Lagos HOMS, Family Homes Fund, state initiatives)
• REDAN-registered developers

3.2.1 The Initial Consultation

• Explain who you are, what you do, how you get paid
• Engagement letter — services, compensation, confidentiality, client obligations
• NDPA data privacy disclosure with written consent

3.2.2 Information Gathering

Personal: full name, DOB, marital status, dependants, NIN, BVN, passport/licence

Employment/income:
– Salaried — employer, sector, tenure, salary structure, employment letter
– Self-employed — CAC registration, audited/management accounts, tax clearance, 12+ months bank statements

Financial: existing debts (car loans, personal loans), monthly commitments, savings, assets

Property: type, location, price, title status, existing or off-plan

NHF contribution history — if 6+ months of contributions, eligible for 6% rate

3.2.3 Needs Assessment

Cover: purpose (purchase/construction/renovation/refinance), own-use vs buy-to-let, timeline, risk comfort (fixed vs variable), long-term plans.

3.3.1 Running the Numbers

Debt-to-Income (DTI) ratio — most Nigerian lenders cap at 33-40% of net monthly income.

Example: ₦600,000 net monthly × 33% = ₦198,000 max monthly payment.

Working backward to loan amount:
– 12% × 20 years × ₦198K monthly → ~₦18M loan
– 18% × 15 years × ₦198K monthly → ~₦11.5M loan
– 22% × 10 years × ₦198K monthly → ~₦8.5M loan

Rates and tenor change borrowing capacity dramatically.

Equity/deposit: typically 10-30% of property price.

Additional costs: legal fees 5-10%, valuation, insurance, stamp duty, registration. On ₦30M property, budget ₦2-4M beyond equity.

3.3.2 Matching Client to Product

• NHF loans — 6% p.a., up to 30 years, max ₦15M; requires 6+ months NHF contributions
• PMB products — 12-18% p.a., 10-20 years, LTV 70-90%
• Commercial bank mortgages — 15-25% p.a., 5-10 years, shorter tenor
• Top-up structure — NHF first ₦15M @ 6% + PMB/bank balance at market rate
• Islamic/non-interest products — JAIZ Bank: Murabaha (cost-plus), Ijara (lease-to-own), Diminishing Musharaka

3.3.3 When the Client Cannot Afford the Dream

Redirect: less expensive area (Ajah instead of Lekki, Lugbe instead of Maitama), smaller property type, phased construction, cooperative society contributions, rent-to-own.

3.4.1 The Documentation Checklist

Salaried: NIN, BVN, passport/licence, employment letter (position/salary/tenure), 3-6 months payslips, 6-12 months bank statements, TIN, spouse ID + consent if married.

Self-employed: + CAC docs, audited financials (2+ years), tax clearance, 12+ months bank statements showing business flow.

Property: offer letter/sale agreement, title document (C of O / Registered Survey / equivalent), Governor’s Consent evidence, approved building plan, NIESV valuation report, life + property insurance quotes.

3.4.2 Packaging the Application

A professional broker packages the application: organises documents in lender’s preferred order, checks consistency, writes a broker’s report that:
– Summarises who the client is
– Presents purchase + financing structure
– Explains why the client is a good credit risk
– Proactively addresses likely lender queries

3.4.3 Submission and Tracking

Submit via online portal / email / physical drop-off. Get written acknowledgement + reference number. Processing: 4-12 weeks typical in Nigeria. Respond to lender queries within 24-48 hours. Keep client informed even when no news.

3.5.1 The Offer Letter

Review carefully with client: loan amount, rate, tenor, monthly repayment, conditions precedent, default/prepayment penalties. Negotiate now before signing — terms become locked.

3.5.2 The Closing Process

• Legal documentation: mortgage deed, deed of assignment
• Title perfection: Governor’s Consent (can take weeks/months), stamping, lands registry registration
• Insurance: life (covers outstanding balance), building/property, optional mortgage protection (disability/job loss)
• Disbursement: lender pays seller/developer directly; broker commission/fee due

3.5.3 After the Deal Closes

Follow up within first month (direct debit working, repayment amount correct, property issues). Stay in touch periodically (birthdays, rate changes, market updates). Ask for referrals at the right time.

Pipeline stages: Lead Generation → Client Intake → Needs Assessment → Affordability Analysis → Product Matching → Application Packaging → Submission/Tracking → Approval → Closing → Post-Closing.

DTI cap 33-40%. NHF best rate (6%), max ₦15M. Equity 10-30%. Extra costs ~5-10% of property value.

1. Three effective lead generation strategies for a new broker in Lagos. Which to prioritise in the first 6 months?
2. Net ₦450K/month, DTI 33%, 15% p.a., 15-year tenor: estimate maximum loan amount.
3. Documents required for self-employed applicant. Why are lenders more cautious about self-employed?
4. Client wants ₦35M property but qualifies for ₦20M loan: three strategies to bridge the gap.
5. Why does post-closing client management matter for long-term business?