Type of Financing
- Prefinance
*Product Criteria
- Builder/Developer/team should possess a valid builder/developer license from building control authority, where applicable.
- Builder/Developer must have at-least 3 years’ experience with good track record
- There should be a clear and marketable title to the land, free of encumbrances, charges and liens on which the project will be built in case it is offered as collateral by the builders/sponsors
Registration certificate of the firm/company
- Memorandum and Articles of Association/Partnership Deed/Business Charter (in case of Sole Proprietorship)
- List of the technical staff
- Pakistan Engineering Council certificate and experience certificates
- List of recently completed projects (if any), along with copies of Completion Certificates submitted to concerned authorities
- Any other document(s) required by the bank/DFI
Security Structure
Following securities can be considered as collateral for financing:
- Assignment by way of security of a specific existing Mortgage Loan Portfolio or receivables from builders/developers
- Any other security as may be required by and is acceptable to the Company such as PIBs & T-bills etc. (Alternate Security) in SGLA Account of PMRC.
Tenor
- Pre-finance 1 to 3 Years
- Refinance as per weighted average life of portfolio with repricing at agreed frequency
Pricing
- Respective tenor PKRV +/- Spread
Repayment Frequency
- Quarterly/Half Yearly
* Product Criteria is subject to change.
