bank home finance loans. why are people least opt for it in pakistan.

[the.paki]

simple question.

why are people in Pakistan don't go for home finance loans in Pakistan? any specific reason or issue regarding home finance in Pakistan ?

need your information and opinions

 

[sadani]

due to very high interest rates ...

In pakistan , i would not suggest anyone to go for home mortgage ( even in any circumstances - always stay away from loans )...

In Pakistan , this home interest can reach upto 30-40%

 

[ahaseeb]

High Interest rates are the main reasons. Secondly, Interest being declared Islamic, people avoid it..

 

[pak2010]

soooooooooooooood haram hai,plz dont go for it. ap dunya main tu ghar bana laity hain lakin akhirah main ghar kho daity hain. please dont do it/.

 

[adnan_younus]

not abt intereset rate... tat tooo... but even when it was low during musharrafs era when car elasing was booming.. still there were very few home loas... i think main reaons are...
1 inflated property values because the actual value is not registered and very low prices are noted down.. only state agent knows UNOFICIALLY what teh sell price was while here in UK its a public information
2 black money in buying and selling properties.. in musharrafs time there was a proposal to tie NTN to a property sale but this was not implemented....ppl use black money to buy properties thus the prices are high filled with black money... honest buyers who pay their full taxes cannot compete with these black tax chor thugs....

due to very high interest rates ...

In pakistan , i would not suggest anyone to go for home mortgage ( even in any circumstances - always stay away from loans )...

In Pakistan , this home interest can reach upto 30-40%