HOUSE BUILDING FINANCE COMPANY LIMITED Syed Asad Ali

HOUSE BUILDING FINANCE COMPANY LIMITED Syed Asad Ali Jafri

RETAIL FINANCE: AN OVERVIEW

WHAT IS RETAIL FINANCE? • Typical mass-market banking in which individual customers use local branches of larger commercial banks. Services offered include savings and checking accounts, mortgages, personal loans, debit/credit cards and certificates of deposit (CDs).

WHAT ARE WE CONCERNED WITH? • MORTGAGES: for instance, a builder constructs a residential building/bungalow and individuals walk in to buy an unit/apartment in that building. We would refer this as Retail Banking/Finance. Or to be specific, Retail Mortgage Finance.

FINANCE ON FINISHED PROJECTS SITE INSPECTION I. PROJECT COMPLETED ACCORDING TO THE APPROVED BUILDING PLAN/COMPLETION PLAN - “Amenity Plot” means a plot allocated exclusively for the purpose of amenity uses, such as Government uses, Health and Welfare uses, Education uses, Assembly Uses, Religious uses, Parks and Play grounds, Burial grounds in, Transportation right-of-way in, Parking in and Recreational Areas. “Ancillary Building” means a building subservient to the principal building on the same plot e. g. servant quarters, garages, guard room etc. - I. III. IV. ALL BASIC AMENITIES ARE AVAILABLE PROJECT NOT INVOLVED IN ANY LITIGATION BUILDER NOT BLACK LISTED EARLIER VERIFICATION OF TITLE DOCUMENTS FROM ISSUING AUTHORITY

LOFT – WHAT THE DICTIONARY SAYS • "Loft" means a horizontal slab used only for storage purposes, which shall be allowed in kitchens, baths and store rooms/shops with access from inside only upto 5'-0" clear height between the loft floor and roof height and shall not exceed 30% of the floor area of the room.

FINANCE FOR INDIVIDUAL ALLOTTEES DOCUMENTATION • • Allotment order Permission to Assign/Mortgage (Issued by Builder) Draft of Sub Lease Application form duly filled in. CNIC Photograph Clearance of Property documents from Panel Advocate

VERIFICATION OF CUSTOMER • • CNIC Verification from Nadra ECIB/other Loan Detail Verification Data Check Other verifications

INCOME PROOF SALARIED PERSON • • • SALARY CERTIFICATE PAY SLIPS BANK STATEMENTS NTN NO/INCOME TAX RETURNS UTILITY BILLS OF CURRENT RESIDENCE

INCOME PROOF BUSINESS PERSON • • • BANK STAEMENT AFFIDAVIT OF INCOME NTN NO INCOME RETURNS EVIDENCE OF BUSINESS PLACE UTILITY BILLS

PRODUCTS GHAR AASAN (FLEXI): • • • PURCHASE OF FLAT/HOUSE CONSTRUCTION OF FLAT/HOUSE RENOVATION OF FLAT/HOUSE

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