Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
HBFCL launches home renovation loan scheme
10-05-2011, 01:24 PM
Post: #1
HBFCL launches home renovation loan scheme
KARACHI: House Building Finance Company Limited, HBFCL, (formerly known as House Building Finance Corporation Limited), has launched a new financing scheme called “HBFCL Renovation Loans” to especially facilitate lower and middle income groups.

The scheme aims at providing financial assistance for renovation, extension and improvement of self-owned properties, thereby lessening pressure on new housing.

“There is a shortage of 7.5 million housing units in the country and this figure is growing all the time. One effective way to address this shortage is to facilitate people to renovate and extend their existing homes, allowing growing families to live together in larger premises. Our new Renovation Loan scheme aims to do just this,” stated Azhar Jaffri, Managing Director and Chief Executive Officer of HBFCL. The public will be able to avail the Renovation Loan by mortgaging self-owned and self-occupied residential property, whether it is a house or an apartment. The loan will be advanced for a period of 2 to 10 years and the age limit for the applicant and co-applicant is minimum 18 years and maximum 60 years for salaried and up to 65 years for self-employed persons. One of the salient features of this scheme is that there are no hidden processing charges built in, which will make it easier for the customers to avail the opportunity.

Under HBFCL Renovation Loans, the company is offering loans for renovations, improvement or extension of their existing property at easy and affordable terms. The scheme is initially being launched in Karachi, Lahore, Islamabad and Peshawar and will soon be extended to Hyderabad, Multan, Faisalabad and Abbotabad. Areas within cantonment limits of Wah and Taxila will also be covered in the second phase.

HBFCL is now an unlisted Public Limited Company. Its vision is “to be the prime housing finance institution of the country, providing affordable housing solutions to low and middle income groups of population by encouraging new constructions in small and medium housing (SMH) sector.”
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  State Bank Remove Loan Limit for Real Estate Sector Salman 0 3,938 01-07-2014 02:29 PM
Last Post: Salman
  Frere Hall’s Renovation Reviewed Salman 0 3,654 12-09-2013 02:18 PM
Last Post: Salman
  CDGL launches ‘Tag the City’ project Salman 0 4,996 11-25-2013 01:31 PM
Last Post: Salman
  CM Punjab To Release Funds For Renovation Of Gawalmandi Food Street Salman 0 3,111 05-10-2013 11:27 AM
Last Post: Salman
  CDA launches ‘Clean & Green Islamabad’ campaign Salman 0 3,596 04-23-2013 12:09 PM
Last Post: Salman
  CDA to start drive for renovation of sectors Salman 0 3,195 04-17-2013 03:55 PM
Last Post: Salman
  CDA launches operation against slums Salman 0 2,968 02-07-2013 06:57 PM
Last Post: Salman
  CDA launches work on widening of Kashmir Highway Salman 0 3,605 08-09-2012 12:02 PM
Last Post: Salman
  RTMA launches action against encroachments Salman 0 2,575 08-02-2012 03:07 PM
Last Post: Salman
  TMA launches grand operation against encroachments Salman 0 4,070 05-12-2012 02:21 PM
Last Post: Salman
  CM launches Economic Revitalization Project for rehab of SMEs Salman 0 2,255 05-10-2012 12:30 PM
Last Post: Salman
  CM launches housing scheme for ‘poor people’ Salman 0 4,052 03-26-2012 11:41 AM
Last Post: Salman
  Punjab govt launches ‘Jinnah Abadi Scheme’ Salman 0 3,885 03-22-2012 07:15 PM
Last Post: Salman
  CDA seeks loan for LED project Salman 0 2,006 03-15-2012 01:12 PM
Last Post: Salman
  CM announces Rs 20bn loan package for youth Salman 0 3,057 03-09-2012 12:21 PM
Last Post: Salman
  Canal Road renovation having little to no effect in aiding public Lahore_Real_Estate 0 2,365 03-03-2012 11:45 AM
Last Post: Lahore_Real_Estate
  Railways launches operation against encroachments Lahore_Real_Estate 0 2,757 03-03-2012 11:34 AM
Last Post: Lahore_Real_Estate
  The construction of first home at the KPC Journalist Housing Scheme Hawksbay has begu Salman 0 4,152 02-13-2012 02:40 PM
Last Post: Salman
  Repair, renovation work of Shaheed-e-Millat Road commences Lahore_Real_Estate 0 2,341 01-02-2012 02:09 PM
Last Post: Lahore_Real_Estate
  SMEDA launches pro-poor programme Lahore_Real_Estate 0 2,729 12-29-2011 11:36 AM
Last Post: Lahore_Real_Estate

Forum Jump:


User(s) browsing this thread: 1 Guest(s)