Having your own roof is not something luxury but considers as a fundamental need, whose provision ensures a minimum standard of welfare for every human being. Therefore, it has been recognized through the "Universal Declaration of Human Rights" and been reaffirmed at the 1996 UN Habitat Conference through the "Adequate Shelter for All" slogan. However, in the context of conventions, the indicators on Pakistani housing sector show a completely different picture. Currently, there is a huge gap of almost 10 million housing units that grows at the rate of 400,000 units annually.
The inadequate supply in the sector has created a burden on the existing housing
The officials have decided to set up PMRC along the lines of mortgage Continue Reading
Newly established Pakistan Mortgage Refinance Company (PMRC) has devised a plan to provide banks with long-term financing option at fixed rates to promote housing finance. According to a spokesperson of PMRC, the availability of long-term funds would mitigate credit and maturity mismatch risks for banks.
The officials have decided to set up PMRC along the lines of mortgage refinancing companies in the developed world. Its major objective is to collect home loans information, buy home loan options and sell them ahead to the long-term investors. It means banks will originate a home loan, sell it quickly to PMRC and extend more loans using the freed up liquidity. PMRC will
If we see Pakistani nation in a broad-spectrum, we will get to know that people are likely to pay huge sum in form of monthly rent than to put up collateral against which they can mortgage a home. It is because of the innate fear of losing everything you own due to bank loan and not just few but many harbour it. Pakistan lags behind most of the other Asian countries in the mortgage financing sectContinue Reading
Majority of home buyers skip this point considering it an expensive step but experts consider home inspection an instrumental part Continue Reading