| Q: Am I eligible for your Home Financing Product? |
You are eligible for our Home financing product if you are a salaried/ self-employed professional or a businessman residing in Pakistan, between 23-65 years of age and having monthly income of Rs. 15,000 per month or more.
Eligibility criteria for Salaried / Self Employed Professional / Self Employed Business person(s): |
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| Approved Company
A & B: |
Minimum 1 year work experience, and should not be on probation in the current job. |
| Unknown: |
Minimum 2 years work experience, and should not be on probation in the current job. |
| SEP /SEB: |
Minimum 3 years work experience in own business |
| Govt. servants
(BPS 17 & above): |
Minimum 2 years work experience |
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| Q: What is the Markup-Rate? |
| You can choose from a whole mix of Product Variances where the rates are structured to meet your requirements. These range between 11.99% – 16.5 % depending upon the facility that you opt for. For any further queries you can contact our Sales Person. |
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| Q: What is the maximum that I can be charged if I choose the Floating Rate option? |
| If you choose the Floating Rate option then the final mark-up rate that you pay, will change with the fluctuations in the Base rate. |
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| Q: How much time will it take to process my loan application? |
| The processing time required from the time you give in your application to the time you are finally handed over your loan amount, ranges from 15 to 20 days. Provided all the required documents that you provide are in order. |
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| Q: What is the free insurance deal? |
| Through out the market, Property Insurance is mandatory for Home Loan Products. All other banks charge insurance fee from the customers, where as with UBL Address we provide it to you absolutely free of cost. |
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| Q: I live in XYZ area, am I eligible to avail your facility? |
| Please refer to the Positive Area list provided in the loan application form and brochure from our Sales person(s) and/or all our branches. |
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| Q: What would be the tenor of the loan? |
| The tenor can range between 3 to 20 years depending upon the facility that you choose. |
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| Q: Can I transfer my existing house loan to “UBL Address”? |
| With our “Balance Transfer Facility” you can now transfer your existing home loan taken from any other bank or financial institution to UBL Address. You will have the opportunity to avail low mark-up, maximum flexibility and other amazing features. |
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| Q: My monthly household income is Rs. 20,000 while my individual income is Rs. 10,000. Do I qualify? |
| Yes, you can get a house loan under UBL Address even if your Clubbed income, which is the combined income of yourself and of your spouse, adds up to Rs. 15,000 (Conditions apply for spouse’s age limit & profession) |
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| Q: Will I have to pay any other charges besides the mark-up on the loan? |
| There are nominal charges for application processing, appraisal and income estimation, which amount to Rs.10, 000 only, all inclusive. |
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