SBP launches webpage to promote house financing

SBP - SBP launches webpage to promote house financing

KARACHI: The State Bank of Pakistan (SBP) has launched a webpage for the promotion of house financing in the country, especially ‘Mera Pakistan Mera Ghar (MPMG).’

A statement issued by the State Bank of Pakistan on Friday said that the central bank has launched dedicated landing webpage on promoting housing and construction finance on its website.

The page contains extensive information on housing and construction finance and ‘Mera Pakistan Mera Ghar’, the government’s flagship markup subsidy scheme for affordable and low cost housing finance.

The webpage provides information on various measures taken by SBP to promote housing and construction finance such as issuance of separate prudential regulations for housing finance, establishment of a high level steering committee, allocation of mandatory targets for housing and construction finance, incentives & penalties and market facilitation.

Moreover, a dedicated webpage for ‘Mera Pakistan Mera Ghar’ is also available to facilitate the potential applicants who intend to avail housing finance under MPMG.

The MPMG page covers information about the scheme comprehensively including eligibility criteria, tenor of the loan, maximum amount of loan, markup rates to be charged, maximum list of documents required and subsidy being provided by the government.

Through this page, potential applicants can also access websites of participating banks directly wherein loan application forms under various categories are available.

An installment repayment schedule of the loans and an installment calculator are also available on this webpage. The webpage also shares monthly data of housing and construction finance extended by the banks.

According to the statement, visitors will also be able to view the testimonials of the actual borrowers who have availed subsidized housing finance under MPMG by visiting the website. It is expected that this dedicated webpage will facilitate the visitors by providing them actionable information, guidance, and support they require for easy access to financing under MPMG.

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