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Presentation topic :-

Home Financing

Group Members
Muhammad Nawaz
100645-002
Atif Razzaq
100645-006
Hafiz Muhammad Irfan
100645-020
Saqlain Munir
100645-027
Waseem Ahmad
Home financing by
With this facility you no longer to just dream about the home
We will provide you required financing up to 70%of the value
of the property
Payment period ranges from 3 to 25 years.

You own a plot but need financing to construct a home
We shall provide up to 100% construction cost say to good
bye rent forever
Even you dont have plot we will provide up to 60% of the
value of the plot you selected to purchase.
Payment period ranges from 3 to 25 years.
You already own a home, but need extra space for a growing
family or want to see some rooms to get a new look.
Simply apply for financing up to Rs. 3.50 million or 40% of
the surveyed value of your home and get for yourself the extra
space!

The crown jewel of our Home Finance scheme, the
opportunity for someone to buy already constructed home
early in life.
We offer up to principal payment in 3 years, for financing up
to 25 years.
Home start is especially designed for young professionals.

Does your existing instalment on a home finance leave
you with nothing to spend?
Genuinely attractive rates and flexible payment options
that could leave more funds with you each month.
With our Home BTF, repaying your home finance will
not make you break into a sweat! Transfer up to 100 %
of the existing finance.
Stretch your repayment period for up to 25 years
once again!

Pakistani nationals.

Age between 23 years to 50 years at the time of application, subject to
maximum age of 60 at maturity of finance.

Minimum income of Rs. 50,000- (per month) from all sources, including
estimated rental income of the property financed duly verified by the
valuator.

Permanent employees - Currently employed with total employment
experience of at least 2 year.

Professional contractual employees (with experience i.e. bankers,
engineers, doctors, architect etc) - currently employed with total
employment experience of at least 3 years.

Self employed professionals must be practicing and conducting business for
at least 3 years with satisfactory track record.

For other self employed persons where stream of income is generated from
property rent /return on fixed deposit /DSC/SSC must have the source of
income for at least last 6 months.

Business individuals must be practicing and conducting business for at least
five years with satisfactory track record either individually owned or a family
business.

High Net worth Individuals with acceptable level of net wealth
commensurate with the size of loan applied


FINANCING ELIGIBILITY

PRODUCT MAXIMUM ELIGIBILITY
All Products
Main Borrower - 40 times of
GMI
plus
Spouse - 40 times of GMI
Or
other relation - 20 times of
GMI
Financing amounts based on Gross Monthly Incomes (GMI) are given below.
2 recent passport size colour photographs.
Copy of Computerized NIC (original to be shown at our office). **
Bank Statement for the last 6 months (original or attested). **
Copies of complete chain of title documents of the property being offered
(if identified).
Processing fee cheque / pay order favoring Bank Alfalah Ltd.
Life Insurance (MPP) and property insurance (PI) forms.*
Letter of understanding.*

Salary Certificate (original) from the employer, showing the
gross salary, deductions and length of service.
Latest Salary Slip / Pay Slips duly attested by the HR
department
Employment Verification Form signed by the employer. *
Salaried Director - Copy of Form 29 / Form A.

Additional documents for salaried resident Pakistanis
Additional documents for salaried Non-
Resident Pakistanis (NRPs)

Copy of Pakistani Passport valid for at least next 1 year.** or NICOP
Copy of Contract / Work Permit / Iqama / Residence Permit / etc.**
Copies of last 3 years Income Tax Returns (Not Applicable for Middle
Eastern Countries) **
Personal Guarantee of a relative based in Pakistan and acceptable to Bank.

Copy of current professional association membership / trade body membership
certificate (if applicable).
Deed of Partnership + Undertaking & NOC as per Bank format.*
Sole Proprietorship Letter / Certificate from customers Bank.*
Copy of latest Form 29 duly attested by the Company Secretary.
Letter from company secretary confirming either the status and share-holding or
remuneration (where applicant is a Director / paid Director of company).
Copies of last 3 years Income Tax Returns.

Rates & charges as per schedule of charges
In case the delay occurs on part of the customer in availing the approved loan
beyond 45 days time, the following reports may again be obtained at customers
cost:
1. ECIB Report
2. Valuation Report (if required)
3. Data Check Report
4. Income Estimation Report (if applicable)
All related charges like Duplicate Statement, Cheque Return Fee etc, as applicable
in general banking are payable.
1. We provide you with all the information you need about Bank Alfalah Home
Finance. This can be through a face-to-face meeting with our Relationship Officer,
or over the telephone, or through the mail / email.
2. You complete an application form and pass it on to us, together with the required
documents give us basic information about your income source & quantum and the
amount you need, we may give you an agreement in principle.
3. Once you have decided on the amount you want and finalized the property, you
provide us the property documents.
4. We make some inquiries about your financial circumstances.
5. We carry out a valuation of the property and verification of your income.

6. Once we have carried out all the initial processing, we send you our offer
through a Facility Advice Letter.
7. You sign the Facility Advice Letter and return it to us.
8. Our Documentation Control Centre will get in touch with you to complete
Finance & Security documentation including legal opinion on the title
documents of the property and also the life (Mortgage Protection Plan) &
property insurances.
9. You sign the Finance Agreement and Charge documents.
10. Our legal advisor will accompany you to the Registrars office on the
appointed date with our cheque against the financing for conveyance of the
property and your home finance begins
Basic Eligibility Criteria (pre-requisites) is as follows.
A Pakistani National; ( holder of either a Pakistani passport, or NICOP)
Your age should be between 23-50 years when you apply.
Verifiable continuous inflow of minimum gross annual income of US$
60,000 & AED/SAR 180,000 or equivalent respectively in tax paying &
non-tax paying countries.
No un-explained delays/defaults towards repayment of current/ past
consumer financings from any Bank both in Pakistan and abroad.
Affordability of financing within Banks acceptable limits.

Salaried Person - Minimum continuous service of 02 years (not necessarily
with the same employer)
Self Employed Professional - Must be practicing and conducting business
for at least 03 years.
Business Person - In business for a minimum of 05 continuous years
(Bank reserves the right to refuse financing for any reason)
Tentative amount of financing that we would be able to finance can be
deduced using following formula. GMI = Gross Monthly Incomes.

PRODUCT MAXIMUM ELIGIBILITY
All Products
Main Borrower - 40 times of
GMI
plus
Spouse - 40 times of GMI
Or
other relation - 20 times of GMI
Being the first to accommodate our overseas nationals, we
offer the same facilities to them with one addition to above
basic eligibility criteria i.e. either a valid Pakistani Nationality
is held OR a valid CNIC/NICOP/Origin card is held.
The financing eligibility can be deduced by first converting
your income into Rupees terms at prevailing exchange rate
(discounted by 10%) and then applying the above multiplier
factor formula.
Non-Resident Pakistanis
Please note that the Mark up rate varies every month with the
changes in 01 year KIBOR - a benchmark affected by markets
credit liquidity. Mark-up pricing is re-visited on the
anniversary date of finance every year till its maturity keeping
in view the then prevailing KIBOR.