Karachi, September 28,
2011: 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 CEO 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.
The House Building Company
Limited (‘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 & medium housing (SMH) sector.” Since its
inception it has provided a range of housing finance products and services for
nearly half a million housing units.
***
For more
information, please contact:
Khurram
Zia Khan or Afsar Khan - Ph: 35867576 - 35837674
Posts
Just a thought that I wanted to share. When you are looking to get a home equity loan for your home you should go online to find the best lender available. There are many different lenders that specialize in giving out home renovation loans. You need to be sure that you get quotes from different lenders to ensure that you do get the best interest rate for you home loan.
ReplyDeleteHome renovation loans are quite popular for people who are looking to get a cheap interest rate for their home loan.
ReplyDelete203k loan is a government program that enables you to purchase a home and finances certain upgrades and repairs as part of your mortgage.
ReplyDeleteFor more details about 203k loan, visit www.cfs203k.com. CFS Mortgage and RenovationReady brings together more than 50 years of traditional and renovation lending know-how. Let their team of experts help you.