HBFC is striving to be a socially responsible and commercially sustainable housing finance institution.

Document

Ghar Sahulat Scheme - Construction

Eligibility Criteria:

  1. Citizenship:
    • Resident Pakistani
    • Non Resident Pakistani
  2. Facility of Applicant / Co-applicant  / Guarantor:
    • Primary (or Single) & Co-applicant allowed
    • Co-applicant must be an immediate family member
    • Guarantor must be a family member having inheritance right in the property to be mortgaged
  3. Age of Applicant / Co-applicant  / Guarantor:
    • Salaried: 18 – 57 years
    • Self-employed Businessmen / Self-Employed Professionals: 18 – 62 years
  4. Income Criteria:
    • Verifiable net disposable monthly income
  5. Employment / Business / Professional Tenure:
    • Salaried: Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
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Product Features

 
  Ghar Sahulat Scheme - Construction
Income Criteria Verifiable net disposable monthly income
Facility Amount
  • Up to PKR 25,000,000/- to affluent individuals of Karachi, Lahore, Islamabad / Rawalpindi, Faisalabad, Multan, Peshawar and Quetta
  • Up to PKR 10,000,000/- in all other areas
Facility Tenure 3 – 20 years
Profit Rate
  • Salaried: 1 Year KIBOR * + 3.25%
  • Self-employed Businessmen: 1 Year KIBOR * + 3.50%
  • Self-employed Professionals: 1 Year KIBOR * + 3.50%

* Yearly re-pricing on each anniversary of financing.

Loan To Value (LTV) Ratio / HBFC’s Share Up to 70% of the market value of the mortgaged property
Balloon Payment Amount should be greater than or equal to 10% of the outstanding principal amount
Insurance / Takaful

Life Insurance and Property Takaful coverage to the extent of financing amount

* Insurance / Takaful Companies on HBFC's Approved Panel

Collateral Specifications
  • The construction is as per the approved building plan

  • For the front coastal line for e.g. front row of Sea View Township and Darakhshan Villas, DHA / Clifton Karachi, subject to the soundness certificate from approved PBA Valuer.

Schedule of Charges

 

  Ghar Sahulat Scheme - Construction
Application Processing Fees
  • Financing upto PKR 500,000/- : processing fees is PKR 3,000/-
  • Financing b/w PKR 500,000/- to PKR 2,500,000/- : processing fees is PKR 8,000/-
  • Financing above PKR 2,500,000/- : processing fees is PKR 12,000/-
Income Estimation Charges
  • Salaried: PKR 2,100/- to PKR 5,500/-Employees of Govt., Semi-Govt., Companies listed in Stock Exchange and Non-Resident Pakistani: Nil
  • SEB / SEP: PKR 3,000/- to PKR 5,500/-
Property Valuation Charges
  • Flat: PKR 2,000/-
  • House: PKR 2,500/-
    (Plus PKR 500/- to PKR 700/- in case of construction case before releasing the third tranche)
Title Clearance Charges *

At Actual

* To be borne by the Customer

Legal Documentation Charges *

At Actual

* To be borne by the Customer

Late Payment Charges PKR 1,000/- on each overdue monthly payment
Balloon Payment Charges Nil
Early Settlement Charges Nil
Storage Charges

PKR 100/- per month

(if mortgaged property documents are not collected within 90 days from the date of account closing)

Last updated on: 21 Nov, 2019