Low Income Group

Demand for low-income housing is massive however Primary Mortgage Lenders (PMLs) are reluctant to enter this segment due to high risk factor. To encourage PMLs to concentrate in this segment, better discount rates are offered as compared to Business as Usual (BAU) and Middle Income Group (MIG) products. By opting for this product, PMLs are required to generate mortgage loans that meet the eligibility criteria for the low-income segment. Long term fixed rate facility enables PMLs to generate fixed rate, long term mortgage housing finance loans.[/vc_column_text]

 

Type of Financing

  • Refinance
  • Prefinance

 

*Product Criteria

  • Individual Income: Should not exceed PKR 100,000
  • Household Income: Should not exceed PKR 140,000
  • Loan Amount: Should not exceed PKR 10,000,000

 

Security Structure

Following securities can be considered as collateral for financing:

  • Assignment by way of security of a specific existing Mortgage Loan Portfolio
  • 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.

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