I work in one of the international banks in Nigeria, and have access to mortgages at 10% interest P.A. with a maximum tenor of 20yrs.

Presently, there is a 90% completed 2 No. 3 bedroom flat on offer for N4.5M in Benin and am wondering whether this will be a good buy.

Your views pls.

Two no. of 3 Bedroom fllat to 90% completion in a good location sounds a good buy! But becarful it is not every houses standing are of good integrity that can stand the test of time! I mean some house may have some sort of fault and poor construction workmanship, in such cases some people will want to sell quickly at a very attractive price to push off the likely future unpleasant occurence off their neck. so i will advice that you get a professional be it an engineer/architect to visit the site and give you an integrity report and advice. I am talking from experience as a structural engineer and construction expert. Good luck.

I posted a response to your request earlier this morning and shortly after I got the message "You have been auto-banned by the antispam bot", this is becoming very irritating I might just bust this site jare.

anyway my suggestion was a 10% loan is good, but is it at fixed rate or reducing balance? Also if you take it for the 20year period you would be paying for it 3 times over. Do your calculation if after deducting the amount you need to survive every month you still have enough left over to pay the loan then go ahead.