Who are we?

Octo5 (formerly known as Legacy Holdings), is a real estate holding company with over twenty (20) years of industry experience and has been synonymous with the creation of transformative and community shaping developments particularly in Lagos and Ogun State.

Our primary business is the creation of sustainable communities that offer strong “inflation beating” rates of return on investment to our investors while meeting the needs of our core market – the career professional.

Is Octo5 a PropTech company?

Octo5 is not a tech company. However, we are deploying property technology across our businesses to drive efficient project delivery, ease transactions and make our projects transparent. Our first app – STOW is a demand aggregator /home purchase tool that is available as a Web app on www.stow.ng. and will be soon be launched as a mobile app for Android and IOS devices.

What is STOW?

STOW (Save To Own) is a web and app-enabled home purchase platform which enables you to save as low as NGN 25,000.00 (twenty-five thousand Naira) monthly towards home ownership.

The app is designed as a marketplace and digital wallet for buying and potentially trading options to own homes being developed by Octo5 and its associated companies. Through STOW, subscribers can track payments, monitor project progress and eventually exercise an option to convert their purchases to mortgages.

Who is Eligible for STOW?

Any individual who is at least 18 years old, gainfully employed (self or institutional) and with a steady monthly source of income qualifies to use STOW.

What is the maximum eligibility period for Mortgage Loans?

Mortgages are typically up to a maximum of twenty (20) years. However, the general rule of thumb in Nigeria caps it at 60 years of age. To calculate your maximum mortgage eligibility, deduct your current age from the retirement age and the resulting number is your maximum eligibility period.

Example: A 40 year old applicant would have maximum eligibility of 20 years;

A 50 year old applicant would have maximum eligibility of 10 years;

Will STOW be available to Nigerians in diaspora?

Yes, STOW is available to Nigerians in diaspora. Our partnership with Interswitch enables us to process payments from anywhere in the World.

How do I qualify for a mortgage?

We have formed a working relationship with the Nigerian Mortgage Refinance Corporation (NMRC) and a number of trusted mortgage partners. This means, we have back-linked STOW, to enable our subscribers prequalify for mortgage loans. As a general rule, once you attain minimum aggregated deposits of 30% of the total value of the intended property, we are able to initiate an application on your behalf for a mortgage loan.

Do you have a customer care number?

Yes, 0700 00 62865

Do you utilise the services of Real Estate Agents?

No. Octo5 works with a selected group of Authorised Brokers and each of them have unique identifier numbers. Subscribers can also reach us directly on the STOW app without the services of any middleman.

On completion, can I let out my apartment?

Octo5 also operates a dedicated guaranteed rental service. This obligates us to let out your apartment on completion and pay you a minimum specified rent for a minimum renewable three period.

Can I trade/sell my apartment, if I want to?

There are three ways to trade your allocations or housing unit:

  1. After making your 30% payment and receiving your conditional allocation, you can trade up by converting to a different house type, if available on the platform;
  2. After reaching the 70% milestone, you can sell your unit and inform us to assign title to the person nominated in writing with a notarised letter of authority; or
  3. After completing full payment, you can sell the unit on the open market.

Regardless of your trade option, the cost of property must be paid up. OCTO5 reserves the right to charge a minimum transfer fee before issuing the full transfer of title and ownership conversion permits.

Can people or group’s co-own (joint ownership) a housing unit?

Yes, we permit co-ownership. However, there must be a legally verifiable relationship with the partners (it can be parental, siblings, spouses) or legal corporate entities (cooperatives or registered partnerships).

Will my house be fully furnished?

No. the finishing specification for each community / house type is indicated clearly on the property search page of STOW.NG.

What happens, if i miss a monthly payment, will I be disqualified?

No, you would not be automatically disqualified. However, failure by the purchaser to pay milestones as and when due attracts a 2.5% default penalty on the sum due for each month of default up to a maximum of six months. If you continue to default after the sixth month, we reserve the right to void your contract and sell the housing unit to any willing third party.

Can I change my selected property type?

Yes, you can upscale (trade to a higher grade) property, ONCE at any time up to the 70% payment threshold.

Can I modify the layout and design of my apartment/Home?

No. Octo5 ensures standardized designs for all of its subscribers. No structural changes are permitted, and only fittings can be changed in our house types.

What about my internal fittings? Can I change them?

We aim to provide the best in class finishing and infrastructure for our clients. However, after handing over, you may opt to change the internal fittings (electrical, sanitary, wardrobes and cabinetry) in your apartment to suit your taste and finances.

What happens if OCTO5 defaults and my apartment is not ready by the scheduled handing over date?

Failure by Octo5 to meet agreed deliverables, as and when due attracts a penalty of =N=50,000.00 for every month of delay to be deducted from the balance remaining due and outstanding from the Purchaser.

What are the charges for Withdrawal/Cancellation of contract?

In the event of this contract being voided, Octo5 shall subject to successfully selling the unit to a third party, refund the entire deposit received less a 10% default deduction for contracts voided before reaching 30% threshold.

If this contract is voided after the 30% threshold, Octo5 shall deduct 15% of the total deposit received up to the time of withdrawal, and refund the balance to the Purchaser.