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| IH&SMEFD
Circular No. 13 of 2020 |
November
20, 2020 |
The Presidents/Chief Executives
All Banks/DFIs
Dear Sir(s)/Madam(s),
Revised Prudential Regulations for Housing Finance
- This refer to IH&SMEFD Circular No. 03 dated April 18, 2017 on the subject above.
- With the objective to further facilitate the promotion of Housing Finance, Prudential Regulations (PRs) for Housing Finance have been revised. Accordingly, as a relaxation to the Regulation HF-4 of Prudential Regulations for Housing Finance, banks are allowed to accept liquid securities or another residential property of the borrower to meet prescribed 15% equity contribution of the borrower. Banks will be required to create lien/ mortgage on the liquid securities / another residential property accepted as equity contribution and total financing amount shall not exceed value of residential unit being financed.
- This relaxation shall be available on new housing finance extended by banks/DFIs after issuance of this Circular.
- Please acknowledge the receipt.
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Yours sincerely,
Sd/-
(Dr. Mian Farooq Haq)
Director
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