For any family living in a house they do not own, rentals are a major expense; a burden that is even more pronounced for lower income segments.

To address the issue, the Government of Pakistan has collaborated with the State Bank of Pakistan to offer viable solutions. Given their commitment to make housing accessible to previously ignored income segments, the banking sector is gearing up to deliver convenient options to aspiring first time home owners.

The Mera Pakistan Mera Ghar Scheme is a Shariah compliant government subsidy aimed at enabling Pakistani nationals holding valid CNICs to access house financing from a local bank of their choice.

The facility can be availed for the purchase of a constructed house or apartment, with a facility of up to 20 years to pay off the loan. This facility is different from existing house financing options because the cost of borrowing is lower for the initial 10 years.

Within the Scheme, the rates are further slashed to accommodate the income levels of the applicants. Hence, the facility is effectively making housing a reality for millions who previously would not have dreamed of owning their own home.

Individuals may avail this subsidised housing finance opportunity from UBL only once and the housing unit financed will be mortgaged in the bank’s favour in accordance with its credit policy and prudential regulations.

With the successful implementation for the programme, more and more Pakistanis will be able to experience the blessings of having their own home.

UBL is geared to help achieve the government’s vision of a new era of secure and stress-free housing in Pakistan!