Askari Home Finance YOUR HOUSE CAN BE YOUR HOME

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Askari Home Finance YOUR HOUSE CAN BE YOUR HOME

• Documentation Monitoring of Mortgage Loans

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Documentation for Financing Facility

• Application Form duly signed by the applicant.
• Latest Salary Slip
• Borrower Basic Fact Sheet (BFS) duly completed
  (prior date of CA approval)
• Clear and visible photocopy of CNIC duly original
  seen and attested by ASM/RSM.
• Undertaking for Credit Facilities (CF-1)
• Residence Verifications
• Office Verifications
• 2 References plus Verification
• Two latest attested passport size Photographs
• Last Six Months Bank Statement
• KYC Completion
• Visit report

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SALARIED INDIVIDUALS

• Attested copy of CNIC.
• Two passport size photographs.
• Copy of the latest paid utility bill received at
  the residential address.
• Employment confirmation letter from the employer.
• Last three months original salary slip or
  attested photo copy.
• Last six months bank statement.
• Copy of the title documents/other supporting
  documents of the property to be placed with the
  bank as security.

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SOLE PROPRIETORSHIP

• Attested copy of CNIC.
• Two passport size photographs.
• Certificate from the bank indicating title
  account opening date
• Copy of the latest paid utility bill received at
  the residential address.
• Copy of the latest utility bill received at the
  business address.
• Last six months bank statement (business/personal)
  
• Copy of the title documents/other supporting
  documents of the property to be placed with the
  bank as security.
• Copy of the latest income tax return or NTN.
• Certificate or other levy-able payment receipts.

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PARTNERSHIP

• Attested copy of CNIC.
• Two passport size photographs.
• Partnership Deed or Bank Certificate indicating
  title account opening date.
• Copy of the title documents or rent deed of
  business premises.
• Copy of the latest paid utility bill received at
  the residential address.
• Copy of the latest utility bill received at the
  business address.
• Last six months bank statement (business/personal)
  
• Copy of the title documents/other supporting
  documents of the property to be placed with the
  bank as security.
• Copy of the latest income tax return or NTN
  Certificate or other levy-able payment receipts.
•  

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• Basic Finance Documents
• Demand Promissory Note
• Buy Back Agreement
• Amortization Schedule duly signed by the borrower
• Direct Debit Authority
• Guarantees
• Personal Guarantee of Borrower / Mortgagor (owner
  of asset)
• PNWS/Wealth Tax returns for P-Gtee's
• Life Insurance
• Comprehensive Insurance Policy covering full
  value of Loan Amount with Bank's mortgage clause
  
• Evidence of premium payment and cheque
  realization certificate in case premium paid
  through cheque

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• Insurance ( Mortgage )
• Comprehensive Insurance Policy covering full
  value of Property/securities with Bank's mortgage
  clause
• Evidence of premium payment and cheque
  realization certificate in case premium paid
  through cheque
• Others
• Approval
• Branch Recommendation
• Data Check
• Customer Account Confirmation required for
  disbursement of finance.
• Latest clean CIB report from SBP (prior date of
  CA
• approval)
• Facility Offer Letter duly acknowledged by the
  Borrower Sent to Branch
• Clear visible photocopies of the witnesses.
• 12 / 36 Post dated cheques of Installment Amount
• Branch Confirmation for receiving Processing Fee
  Rs. 6,500/-
• Copy of Pay Order Payment confirmation Letter

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Documentation Required for Financing against the
Purchase of House by Civilians - DHA

• Original Sale / Conveyance Deed in favour of
  customer - Branch Undertaking required
• Indenture of License in Form 'A - Branch
  Undertaking required
• Indenture of License in Form 'B - Branch
  Undertaking required
• Covering Letter of Approved Building Plan -
  Branch Undertaking required
• Approved Building Plan - Branch Undertaking
  required
• Allotment Letter issued by DHA - Branch
  Undertaking required
• Agreement to Sale in favour of Customer - Branch
  Undertaking required

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• Token Mortgage Deed registered (TMD) for 5 of
  Finance Amount - Customer Undertaking Required
• Agreement to create registered mortgaged
• Affidavit by owner of property
• Valuation Report by approved evaluator.
• Building plans
• Non-Encumbrance Certificate (NEC) - Customer
  Undertaking Required
• PTM from the relevant authority to mortgage /
  prior lenders - Customer Undertaking Required
• Lien Marking Confirmation from DHA - Customer
  Undertaking Required
• Possession Letter - Customer Undertaking Required
• Irrevocable Undertaking

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• Search Certificate
• Completion Certificate
• Extract from the Land Register issued by MEO
  showing the name of previous owner as Lessee.
• Initial Opinion by Lawyer's confirming Clear
  Title
• Final Opinion by Lawyer's confirming correct
  execution of Mortgage Documentation - Branch
  Undertaking required
• Mutation of the Property in the name of Customer
  from MEO - Customer Undertaking Required
• Mutation of the Property in the name of customer
  from MEO
• Memorandum of Deposit of Title Deeds (MOTD) for
  Rs
• General of Power Attorney registered (GPA)
• Special Power of Attorney (APA) on Rs.500/- Stamp
  paper duly Notarized

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Documentation Required for Financing against the
Purchase of House by Civilians Other Than DHA

• Original Sale / Conveyance Deed in favour of
  customer
• Transfer Letter
• Covering Letter of Approved Building Plan -
  Branch Undertaking required
• Approved Building Plan - Branch Undertaking
  required
• Allotment Letter issued by concerned Authority
• Agreement to Sale in favour of Customer - Branch
  Undertaking required
• Search Certificate
• Completion Certificate
• Initial Opinion by Lawyer's confirming Clear
  Title

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• Final Opinion by Lawyer's confirming correct
  execution of Mortgage Documentation - Branch
  Undertaking required  
• Mutation of the Property in the name of Customer
  from MEO - Customer Undertaking Required
• Mutation of the Property in the name of customer
  from MEO
• Memorandum of Deposit of Title Deeds (MOTD) for
  Rs
• General Power of Attorney registered (GPA)
• Special Power of Attorney (APA) on Rs.500/- Stamp
  paper duly Notarized
• Token Mortgage Deed registered (TMD) for 5 of
  Finance Amount - Customer Undertaking Required
• Agreement to create registered mortgaged

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• Affidavit by owner of property
• Valuation Report by approved evaluator.
• Non-Encumbrance Certificate (NEC) - Customer
  Undertaking Required  
• PTM from the relevant authority to mortgage /
  prior lenders - Customer Undertaking Required
• Lien Marking Confirmation from DHA - Customer
  Undertaking Required
• Possession Letter - Customer Undertaking
  Required  
• Irrevocable Undertaking
• Original Sub lease
• Occupancy certificate issued by KBCA
• Search Certificate
• PT-10 evidencing payment of up to date property
  tax payment
• Genuineness of the Property

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Documentation Required for Financing against the
Purchase of Apartment

• Original Sale / Conveyance Deed in favour of
  customer - Branch Undertaking required
• Original Sub lease in Favor of Seller
• Occupancy certificate issued by KBCA
• Search Certificate
• NOC from the Association for transfer of Flat
• PT-10 evidencing payment of up to date property
  tax payment
• Initial Opinion by Lawyer's confirming Clear
  Title
• Final Opinion by Lawyer's confirming correct
  execution of Mortgage Documentation - Branch
  Undertaking required

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• Memorandum of Deposit of Title Deeds (MOTD) for
  Rs
• General Power of Attorney registered (GPA)
• Token Mortgage Deed registered (TMD) for 5 of
  Finance Amount - Customer Undertaking Required
• Agreement to create registered mortgaged
• Affidavit by owner of property
• Valuation Report by approved valuator
• PTM from the relevant authority to mortgage /
  prior lenders - Customer Undertaking Required
• Genuineness of the Property

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CHECK LIST
1 ASM VISIT REPORT
2 BTF REQUEST ( IF REQUIRED )
3 AUDITED BALANCE SHEET( RS. 10 MILLION OR ABOVE )
4 COMPLETE APPLICATION FORM
5 COPY OF CNIC
6 2 PHOTOGRAPH
7 UTILITY BILLS / GAS/ELECTRICITY/TELEPHONE / ( FOR 2 MONTHS )
8 CHILDREN FEE SLIP (IF ANY)
9 BASIC BORROWER FACT SHEET / CREDIT DECLARATION
10 UNDERTAKING ( IPO CREDIT DECLARATION )
11 FORMS (KYC 2 REFERENCE)
12 PROCESSING FEE PAY ORDER IN FAVOUR OF ASKARI BANK LIMITED
13 RENTAL AGREEMENT OF RESIDENCE (IF ANY)
14 LAST THREE MONTHS ORIGINAL PAY SLIP
15 EMPLOYMENT LETTER WITH STATUS OF EMPLOYEMENT AND DATE OF JOINING
16 LAST SIX MONTH ORIGINAL BANK STATEMENT
17 INCOME TAX RETURN FOR THE LAST THREE YEARS
18 BALANCE SHEET FOR THE LAST 2 YEARS (FOR S.E.B)
19 PROPRIETORSHIP DECLARATION ON COMPANY LETTER HEAD
20 BANK LETTER FOR AUTHORIZED SIGNATORY
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21 PARTNERSHIP DEED (IF ANY)
22 ARTICLE OF MEMORANDUM / 29 - ETC
23 COPY OF TITLE DEED OF BUSINESS PREMISES OR RENT AGREEMENT
24 COPY OF CREDIT CARDS BILL FOR THE LAST THREE MONTHS
25 COPY OF THE ALLOTMENT LETTER OF THE PROPERTY
26 COPY OF LEASE / SUB LEASE DEED
27 COPY OF ALL REGISTERED DEEDS
28 APPROVED BUILDING PLAN
29 MUTATION / TRANSFER LETTER
30 PROPERTY TAX CLEARANCE
31 POSSESSION LETTER
32 DATACHECK ECIB REPORT
33 EXECUTIVE SUMMARY
34 VERIFICATION (PHYSICAL DOCUMENTS)
35 INCOME ESTIMATION (IF REQUIRDE)
36 LEGAL OPINION OF THE PROPERTY
37 PROPERTY VALUATION
38 UP TO DATE SEARCH REPORTS
39 CSA
40 APPROVAL LETTER TO CUSTOMER
41 LIFE INSURANCE
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Monitoring of Mortgage Loans

• Normally the banks practice is to put on place
  an efficient computer based MIS for the purpose
  of consumer finance which is able to effectively
  cater the needs of consumer financing portfolio
  and generates necessary information reports used
  by the management / recovery collection
  department for effective monitoring of the banks
  exposure and timely recovery of the installments
  from the customers through collection and
  recovery officers.
• Delinquency reports pertaining to
  30,60,90,120,180360 days above are provided to
  the management / recovery collection department
  on monthly basis in order to keep in tact with
  the customers to recover the monthly installments
  on time and to minimize the delinquency.
• The strong grip on the newly delinquent account
  enable the collection to stop maximizing the
  overdue portfolio. Therefore the basic concept
  should be to focus those customers who are newly
  irregular.

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THANK YOU!!