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Determinants of intention of using mortgage in financing home ownership in Bauchi, Nigeria

Determinants of intention of using mortgage in financing home ownership in Bauchi, Nigeria PurposeThis paper aims to evaluate the bane of home ownership in Nigeria through mortgage financing by examining the determinants of intention of using mortgage in financing home ownership.Design/methodology/approachThe paper adopted a survey quantitative research design. A total of 235 valid questionnaires randomly distributed were retrieved from 300 potential homeowners who were the sample of the research. Partial least squares-structural equation modeling was used for data analysis and hypotheses testing.FindingsThe findings revealed that religious perception on mortgage was the most significant determinant of intention of using mortgage in financing home-ownership. Subjective norms and perceived behavioral control also have significant effect on intention of using mortgage financing. However, attitude and familiarity/knowledge of mortgage were found not to have a significant effect on intention of using mortgage financing. The determinants cumulatively determined 77.6 per cent (R2 = 0.776) of the variance in intention of using mortgage in financing home ownership.Practical implicationsThe research contributed to knowledge and has practical implications to policy makers, mortgage institutions, investors and the society.Originality/valueThe paper uniquely explores the bane of home-ownership through mortgage financing by examining potential home-owners’ intention of using mortgage financing. To authors’ knowledge, this is the first paper to evaluate intention of using mortgage financing, at least in Nigeria. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Housing Markets and Analysis Emerald Publishing

Determinants of intention of using mortgage in financing home ownership in Bauchi, Nigeria

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References (53)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1753-8270
DOI
10.1108/IJHMA-07-2015-0033
Publisher site
See Article on Publisher Site

Abstract

PurposeThis paper aims to evaluate the bane of home ownership in Nigeria through mortgage financing by examining the determinants of intention of using mortgage in financing home ownership.Design/methodology/approachThe paper adopted a survey quantitative research design. A total of 235 valid questionnaires randomly distributed were retrieved from 300 potential homeowners who were the sample of the research. Partial least squares-structural equation modeling was used for data analysis and hypotheses testing.FindingsThe findings revealed that religious perception on mortgage was the most significant determinant of intention of using mortgage in financing home-ownership. Subjective norms and perceived behavioral control also have significant effect on intention of using mortgage financing. However, attitude and familiarity/knowledge of mortgage were found not to have a significant effect on intention of using mortgage financing. The determinants cumulatively determined 77.6 per cent (R2 = 0.776) of the variance in intention of using mortgage in financing home ownership.Practical implicationsThe research contributed to knowledge and has practical implications to policy makers, mortgage institutions, investors and the society.Originality/valueThe paper uniquely explores the bane of home-ownership through mortgage financing by examining potential home-owners’ intention of using mortgage financing. To authors’ knowledge, this is the first paper to evaluate intention of using mortgage financing, at least in Nigeria.

Journal

International Journal of Housing Markets and AnalysisEmerald Publishing

Published: Aug 1, 2016

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