Mortgage Providers / Home Finance

Dubai Islamic Bank delivers world-class products and services to cover the full spectrum of real estate financing needs.

Our array of products comprise :

• Istisna: Financing covering the construction of property
• Murabaha: Acquisition finance covering purchase of land / property
• Diminishing Musharaka: Cash-out financing where the Bank purchases a share in your existing property and banks share diminishes over the financing period.
• Ijara: Lease financing covering the purchase of property which is then leased to you with the option to buy.

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MCB Pyara Ghar
Apna Ghar Pyara Ghar
Desire a home of your own? Want to renovate your existing home? MCB Pyara Ghar now provides you with all you want as you can renovate your existing home, buy or construct a dream house that you always envisioned for you and your family. After all, "Apna Ghar... Pyara Ghar"

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Eligibility Criteria

Application for Housing Finance may be accepted from salaried or self employed persons subject to completion of certain conditions given below.

Applicant Age
Age between 25 and 50 years and it should not exceed 60 years at the time of maturity of the loan.

Salaried Persons

Applicant should be a permanent employee with a minimum 3 years continued employment with the existing employer. Minimum take home salary / declared income should not be less than Rs. 20,000. Employer should be:

• 1. Financial Institution OR
• 2. Multinational Company OR
• 3. Public Limited Company listed on Stock Market OR
• 4. Reputable & Registered Educational Institution OR
• 5. Reputable Large Hospitals
• 6. Confirmed employees of Government / Semi-Government organization including Armed Forces Personnel
• 7. Employees of Corporate Customers of PICIC Commercial Bank Ltd.

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Ever since the inception of life, shelter has been rated among the primary needs of mankind. Owning a home for oneself still remains an exclusive dream for many. Askari Bank has made the realization of your dream to have a house of your very own possible. Whether you plan to build a house, tailor made to your requirements or buy a constructed house, Askari mortgage finance enables you to pursue your goal without any problems.
Product Featuring :

	Borrower:	Resident Pakistani Nationals.
	Financing Limits:	Maximum upto Rs. 30 Million.
	Tenor:	Maximum upto 20 years.
	Repayment:	Monthly Installments.
	Prime Security:	Mortgage of property.
	Markup Rates:	Competitive
	Servicing:	Available at all Askari Bank Branches
	Balance Transfer Facility:	Available

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10 Steps for Home Finance

• 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 post.
   
• 2. You give us some basic information about your income and the amount you need so that we can give you an agreement in principle.
   
• 3. Once you have decided on the amount you want, you complete an application form and pass it on to us, together with the required documents.
   
• 4. We make some inquiries about your financial circumstances.
   
• 5. We carryout 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 insurances.
   
• 9. You sign the Finance Agreement and Charge documents.
   
• 10. Our legal advisor will accompany you to the Registrar’s office on the appointed date with our cheque against the financing for conveyance of the property and your home finance begins.

Please contact us to learn more about our products