Private banks to facilitate mortgage payments for LDA employees

LAHORE – As shared by news outlets on the 8th of January, the Lahore Development Authority (LDA) have finalized their agreement with private banks to facilitate its employees regarding mortgages on purchase of low-cost apartments within LDA City; said apartments are part of the Naya Pakistan Housing Programme (NPHP).
Within the first phase of this project, 4000 apartments will be constructed. Reportedly, the mortgage policy designed by the banks is intended to provide financial assistance of up to 80% of a unit’s actual price, with home loans being offered at a 5% markup. This process of acquiring said units is also said to have already begun.