UBL Ameen Address-Islamic House Financing Facility

UBL Ameen Address is a Shariah compliant solution based on the concept of Diminishing Musharakah; whereby the bank and customer enter into a Musharakah (Partnership) as joint owners of the House being financed. The possession will be handed over to the customer however, since the major shareholding will be of the bank; therefore, the customer will have to pay rent for using Bank Portion. Apart from the rent, ownership will transfer from the bank to the customer through the purchase of ownership share units by the customer. A complete schedule will be provided comprising of the Rental and the Unit Purchase Payments.

UBL Ameen Address empowers you to own your dream house by offering a host of options that are affordable and flexible. Now, choose the best service at the lowest prices, and make your dream house a reality with UBL Ameen Address. This product applicable for the following:

Following variants are being offered to UBL Ameen customers

• Ameen Home Purchase (Buy a home)
• Ameen Home Equity (Renovation)
• Ameen Build a home (Construction)
• Ameen Balance transfer facility
  • BTF from Conventional Bank
  • BTF from Islamic Bank.

The financing will be allowed in the below mentioned bracket:

For the purpose of securing the payment of money advanced or to be advanced by way of finance, and to secure bank’s interest mortgage property will be marked as collateral.

The financing will be offered at the following Pricing to the following segments:

Partial payment will be allowed once a year. The amount of partial payment should be a minimum of Rs/- 50,000 and a maximum amount of 6 monthly installments.

In the event of Early settlement unit price will be revised with 8%, 5% & 3% of outstanding Musharakah Units respectively in 1st, 2nd, & 3rd year onwards.

Segment wise financing Criteria for each segments are mentioned hereunder.

• Copy of CNIC
• Two recent Photographs each of primary as well as co-applicants
• Signed LOU (Letter of Understanding), which states the applicable rental rate at the time of booking of financing.
• Other Documents are required to substantiate the length of business
• General Income Documents for Salaried and SEB / SEP are given below. However, the required documentation as per your profession and income segment shall be communicated to you by our respective Relationship Managers.

Click Here for the application form.

Click Here for Undertaking and mandatory documents form.

• The applicant further authorizes you to open a non-checking payment account or any such account(s) that you may consider appropriate in this respect and I understand and confirm that such account(s) shall be governed by the applicable terms and conditions for such account(s) and shall be binding on me and I also undertake to provide any additional information as may be required by you for such account(s).
• The Applicant hereby acknowledge and confirm that UBL Ameen may from time to time contact the applicant regarding promotional activities / product / services that UBL Ameen is offering in the market.
• The applicant hereby undertakes to furnish all documents that may be required by UBL Ameen in relation to the facility and to provide cheques of such amount as requested by UBL Ameen for the consideration and review of the applicant’s applications for entering into a Musharakah with UBL Ameen.
• The applicant also understands and undertakes to pay in advanced, all amounts comprising the applications processing charges.
• The applicant further confirms that the external agency charges payable by the applicants constitutes payment by the applicants to the law firm, appraisal agency, Income estimation agency i.e. external Agency for the services rendered by each of the external agencies for the processing of the applicant request.
• The applicant here by acknowledges and confirm that the application processing charges and the external agency charges are non-refundable / reimbursable in any case nor in the event of UBL Ameen decision to decline the applicant request but the assignment of the external agencies has been initiated nor these charges will not be returned / reimbursed and / or adjusted by UBL Ameen against any other amount payable by the applicant to UBL Ameen.
• The applicant further confirms that all expenses, charges and cost incurred by the applicant for providing information and / or documents to UBL Ameen for the processing of the applicant request are the sole responsibility of the applicant and can neither be claimed from UBL Ameen nor set off by UBL Ameen against any other amount payable by the applicant to UBL Ameen as per financing agreement.
• The applicant herby authorizes UBL Ameen and the third parties appointed by UBL Ameen, to obtained all such information about the applicant from third parties, as may be required by UBL Ameen, including obtaining such information from the applicant’s bankers as UBL Ameen may deemed necessary and to exchange such information for the purpose of processing my / our application and for the verification of any of my / or account with any bank.
• The applicant acknowledges the fact that the facility requested by me / us in the application will be made available to me / us at the sole discretion of UBL Ameen.
• The applicant declared that all the information presented above is correct and complete to the best of my / our knowledge and believe.
• Applicant authorizes UBL Ameen and its duly appointed agents to contact any person or Authorities specified in the application form and to verify employment and to contact any person identified as the reference by the applicant in the application form.
• The applicant hereby conforms the product characteristics for the facility “have been explained to the applicant and the applicant fully understands them and agrees to be bound by the specific terms and condition for the same.
• The selection of the property shall be the responsibility of the customer.
• All payment should be made through pay orders and cross cheques in favor of UBL Ameen only, UBL Ameen shall not be
  • responsible or liable for payments made through cash or bearer cheques.
• UBL Ameen reserves the right to approve / reject any applications without assigning any reason.
• In case applicant cheque for application process is dishonored UBL Ameen reserves the right to reject the application.
• The processing of your application shall commence after receipt of complete documents listed as per UBL Ameen policy.

Please note that all branches in the above cities can be contacted for UBL Ameen Address.
For more information, call us at (021) 111-825-888

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Click Here to View KFS - Ameen Address Housing Finance