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Farhan hamee..
( 1 post )

[5 Answers]
Is hbfc provide loan for behria town karachi

    38 days ago In Want To Buy
    Post Reply
    Imtiaz
    (1190 posts)
    Not sure about HBFC. Typically, Commercial Banks/Institutes always see BT as a No Go. Reasons are many and on top of that the mess that BT drags itself into, rings big alarms for Banks. Insurance pricing can be a slaughter on principal amount. However, talking to the individual in respective bank/institute can clarify better.

    If BT is choice and Loan is a requirement, explore Escort Investments Bank. This is I guess acquired by MR for home financing of BT Projects. All house mortgages in PAK are pure rip-off anyway.

    How to get Bank Financing (Home Loan) for Bahria Town Karachi
    http://bahriatowntoday.com/how-to-get-bank-financing-home-loan-for-bahria-town-karachi/
      38 days ago 

      Isloo1
      (529 posts)
      Generally financial institutions do not cover property where title is not legally transferred in your name. This is the case with Bahria, that is there is no legal transfer (registry, etc.) when you buy from BT, all you get is a fancy paper. Bahria remains the owner of the piece of land you purchased.

        38 days ago 

        Imtiaz
        (1190 posts)
        True.

        To add, BT (as per my experience) does provide Transfer Letter + Possession Certificate. I guess, mortgaging has more to do with that 99 yrs lease-based transfer stuff. Those tricky terms and conditions that customer has no other option but to accept. The same issue that was also raised in the SC, if I recall that correctly.

        Property Mortgage & Property Pledge of BT (againts loan) is not entartained by banks/financial institutes.

        To somehow, getting over that routine Mortgaging hurdle, MR bought and setup Escort Investment Bank to deal with BT Mortgaging.

        -------
        Pls. Feel free to add if something missed or overlooked.
          38 days ago 

          Nadeem Ahmed
          (4323 posts)
          Imtiaz sab yaar bari himat ha app ki.Allah app ko nizar-bad sa bachaaa Ameen.

          App ki stories parnaa ka lia app jasa wala hona chiaa lol.

          Regards
            37 days ago 

            Imtiaz
            (1190 posts)
            Nadeem sb,

            Sir nawazish hai aap ki :)

            Baqi hardcore BT/DHA dealers kay darmiyan kuch (unbiased) story-tellers bhi honay chahiye.

            Stay Blessed!
              37 days ago 

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