UBL – low cost house loan- Mera Pakistan Mera Ghar
BUILD YOUR DREAM HOUSE WITH UBL
UBL Ameen – here is our Islamic Banking brings to you a cost-effective House Financing Scheme under the Shariah Compliant mode. Build your dream house in the land built on dreams, as we ascend hand-in-hand to a prosperous tomorrow.
The facility offers the following options to purchase your dream house:
UBL AMEEN MERA PAKISTAN MERA GHAR – BUY YOUR DREAM HOUSE:
This facility is meant for first purchase of a newly constructed (house should not older than 1 year)
housing unit/apartment.
 |
| Low cost house loan |
UBL AMEEN MERA PAKISTAN MERA GHAR – BUILD YOUR DREAM HOUSE:
This type of our facility allows you to get financing on already owned residential land or purchase of residential land with construction thereon.
Eligibility Criteria
- All Pakistani citizens holding valid CNIC
- This scheme with subsidized rates is for first time home owner
- An individual can avail this facility under the scheme only once
- Only for construction and first purchase of newly constructed affordable housing units
Product Features & Benefits
| Description | Tier 1* (NAPHDA Projects) | Tier 2 (Non- NAPHDA Projects) | Tier 3 (Non- NAPHDA Projects) |
|---|---|---|---|
| Size of Housing Unit | Housing unit / apartment / flat of up to 125 sq. yds (up to 5 Marla) with covered area of up to 850 sq. ft. | Housing unit / apartment / flat of up to 125 sq. yds (up to 5 Marla) with covered area of up to 850 sq. ft. | Housing unit / apartment / flat of more than 125 sq. yards up to 250 sq. yds (10 Marla) or apartments/ flats with covered area from more than 850 sq. ft. to 1,100 sq. ft. |
| Maximum Price of Housing Unit | Rs. 3.5 Million | Rs. 3.5 Million | Rs. 6.0 Million |
| Maximum Financing | Rs. 2.7 Million | Rs. 3.0 Million | Rs. 5.0 Million |
| Financing Tenor | 10, 15 and 20 years as per choice of customer |
*Naya Pakistan Housing & Development Authority (NAPHDA) projects only.
Subsidized Rental Rates
| Tier 1* (NAPHDA Projects) | Tier 2 (Non- NAPHDA Projects) | Tier 3 (Non- NAPHDA Projects) |
|---|---|---|
| First 5 years = 5% Next 5 years = 7% For period exceeding 10 years = 1-year KIBOR+2.5% | First 5 years = 5% Next 5 years = 7% For period exceeding 10 years = 1-year KIBOR+4% | First 5 years = 7% Next 5 years = 9% For period exceeding 10 years = 1-year KIBOR+4% |
Key Qualification Criteria
| Description | Parameters |
|---|---|
| Age (Applicant & Co-applicant) | Minimum: 25 years Maximum: 60 years at time of maturity of financing. |
| Net Monthly Income | PKR 25,000 per month net disposable income |
| Co-Applicant | Up to 4 co-applicants allowed with 100% income clubbing of co-applicants |
| Financing Cities | All cities of Pakistan where United Bank Limited has it branch network |
| Employment / Business Tenor | Minimum 5 years |
| Security Requirement* | The housing unit / apartment financed will be mortgaged in favor of United Bank Limited (UBL Ameen) as per banks’ policy and SBP prudential regulations |
Minimum Documentation
- Facility Application Form
- CNIC copy of the applicant / co-applicant
- Proof of income documents
- Copies of property documents / details of property
For more details, Call UBL Contact Center & Customer Care at 111-825-888 or visit your nearest UBL branch.