A recent press report said that National housing Bank has asked the housing financing companies not to levy penalties on pre-closure of loans, subjected to certain situations. The bank which regulates and supervise the housing finance companies, has directed all housing finance companies to maintain the consistent in floating rate interest for both old and… Read More »
A recent press report said that the National Housing Bank which regulates HFCs has planned to waive pre-payment charges on floating rate housing loans. MR. R Verma, chairman and managing director, NHB told the press that it will soon bring guidelines to remove prepayment penalties on all accounts. He said that they were currently examining… Read More »
According to the reports from the National Housing Bank (NHB) chairman and managing director, Mr.R.V. Verma, today said there has been a slowdown in the growth of housing loan uptake due to higher interest rates and rising property prices. He said that the housing finance loans have witnessed 25% growth each year for four consecutive… Read More »
A recent press report said that the RBI has sets up Central Registry in order to prevent property loan frauds. The records maintained by the by the Central Registry will be available for search by any lender or any other person interested in dealing with the property. It is believed that the availability of such… Read More »
Purpose – For construction or acquisition of new dwelling units and for reconstruction of houses Quantum of Loan – Maximum amount of loan offered is Rupees 25 lakhs. Repayment period- Any period above 5 years and up to 15 years Bank Lending Rate for housing finance – For Long Term PLR will be 10.00% p.a.(on… Read More »