Mera Pakistan Mera Ghar National Bank | NBP Prime Minister House loan Scheme 2024
Channel: Business with Ali
Date: 25/03/2024

Mera Pakistan Mera Ghar National Bank | NBP Prime Minister House loan Scheme 2024
https://www.nbp.com.pk/Mera-Pakistan-Mera-Ghar
Can financing under the facility be utilized for the purchase of plot? A plot of land can only be purchased under the facility if a house is to be constructed on the plot and financing is meant both for purchase of land and construction thereon provided all other terms and conditions of the facility including maximum price of house and maximum loan under the relevant tier are complied with.
2
How can the first time homeownership be established? In order to establish first time homeownership, financing bank will obtain an undertaking to the same effect from its borrower/customer with necessary provisions for termination of subsidy and other penalties, in case it is established at a later stage, that the borrower/ customer owned a house at the time of application for availing subsidy facility.
3
Is the financing also available for purchase of flat? Yes, financing will be available for purchase of flat which meets covered area requirements specified for ‘apartment’ under the Facility.
4
Is the financing for expansion/extension in the existing housing unit allowed? Yes, financing will be available for expansion/extension of existing housing unit provided the housing unit after expansion/extension falls within the criteria specified under the facility.
5
Can financing under the scheme be utilized for renovation of the existing residential unit? No, financing for renovation of existing housing unit will not be allowed under the facility.
6
Is bank staff eligible to avail financing under this facility? No, bank staff is not eligible under the facility.
6a
Whether banks’ third party staff is eligible under the scheme?   Yes
6b
Are contractual employees of banks eligible for financing under the Scheme? Contractual employees of banks who are below officer grade and are not eligible to avail staff housing finance are eligible for financing under the Scheme.  
6c
Whether staff of Microfinance banks is eligible? Yes
6d
In case if a bank staff is NOT eligible under their respective HR house loan policy/ facility (for whatever reason), whether such employees of the bank can avail this scheme? No. Permanent employees of the bank are not eligible under the scheme.
7
What does new house mean? New house/ apartment/ flat means a unit not more than 1 year old from the date of application, as established by Completion Certificate.
7a
Where "Completion Certificate" is NOT available, how we can gauge age of property?   In such areas where completion certificate is not available, valuation certificate issued by external valuers may be considered.
8
What does first purchase mean? First purchase means first transfer of the house/ apartment/ flat.
8a
If the property is being sold out in 1 year to 2nd owner, can the 2nd owner apply for the financing under this facility?  Financing is available under the scheme to the borrower at the time of first transfer of title document.
9
How much income of co-borrower can be clubbed and how many co-borrowers/applicants are allowed? In case of co-applicants, 100% income of co-applicants may be clubbed for credit assessment. Up to four co-applicants are allowed for a single housing unit.
10
While availing the markup subsidy, is it allowed to sell or rent out the residential unit? Home owner will not be allowed to sell the housing unit before expiry of 5 years from the date of acquisition. Further, during this period, he/she will not be allowed to rent out financed housing unit.
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