Home – CAHF, Centre for Affordable Housing Finance Africa, housing finance.#Housing #finance


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On the 2 October 2017 CAHF presented at the Habitat Norway s conference on Urbanization and Affordable Housing. Habitat Norway is a Norwegian non-governmental organization, established in

Presentation: Building Africa’s Housing Housing Finance Market.

CAHF executive director, Kecia Rust presented at the 2017 API Summit in Sandton, Johannesburg. Her presentation identified ways of addressing both affordability and accessibility to

2017 Housing Finance in Africa Yearbook (8th Edition)

Nairobi Metropolitan Mortgage and Rental Affordability Report 2017

Nairobi Metropolitan Residential Report 2017

Presentation: Affordable Housing in Africa: A fact or a Fiction ?

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Latest Projects

Housing and the Economy

CAHF has recently completed three studies that give us clearer answers to these two questions, and many others as well. The studies are ground-breaking in their approaches, venturing into

African Union for Housing Finance (AUHF)

The African Union for Housing Finance (AUHF) was established as a member-based body of housing lenders in 1984. Today, the AUHF comprises of 61

Residential Real Estate Investment Trusts in Africa

Case Studies into Innovation

Housing Finance Information Network (HOFINET)

Housing Finance in Africa Yearbook

CAHF on Twitter

Housing finance

We’re in #Livingstone #Zambia for the @FSDAfrica FSD Network Conference 2017, themed “The Changing Landscape of Financial Sector Development in Africa: Where from and Where to Next?”. #FSDConference https://t.co/S6q2U32af4

Housing finance

Mortgage interest tax deductions: so compelling and such a bad idea. African policy makers must watch the US experience https://t.co/L9b2mshmfE

Housing finance

Using backyard rental to turn townships into Sandton! A fabulous vision from Kaalfontein and Melana Developments https://t.co/mYHy5M5IaB

Housing finance

Addressing information asymmetry for low income housing buyers and sellers in Cape Town. Excellent initiative https://t.co/Pe55cLPMu0

Housing finance

CAHF | What We’ve Been Doing: What we learnt at the 33RD AUHF Conference – https://t.co/06qQUINmGj

Housing finance

Want to know the drill down details of #housing construction costs? See our fancy new dashboard https://t.co/6hNom4HRhF

Instagram: Houses of Africa

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    2017 Centre for Affordable Housing Finance Africa. All rights reserved. Terms and Conditions


  • Housing finance#Housing #finance


    Housing Finance

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    Key Messages
    • Housing plays a key socio-economic role and represents the main wealth of the poor in most developing countries
    • 3 billion people will need new housing and basic urban infrastructure by 2030, according to UN-Habitat. Without available and affordable housing financing solutions, many urban poor can’t get decent formal housing.
    • Our work in housing finance helps clients provide market-based safety nets, and fund long-term investments to support sustainable economic growth.

    Overview

    The UN estimates that by 2030, the global population will reach 8.5 billion, with almost 60% of the population living in urban areas. Rapid urbanization is putting pressure on housing delivery systems, which are often informal or reliant on the state. The inability to keep up with the demand results in burgeoning areas of informal housing, overcrowding and slums. This has propelled the issue of affordable housing and housing finance to the forefront of the global agenda, which makes it a key focus area for the World Bank Group.

    Our work in housing finance focuses on helping client countries develop deep, resilient and affordable housing finance markets that are accessible to middle, lower and informal-income households. We provide the tools to build and expand housing finance markets; fund housing finance, often through the mobilization of long-term mortgage securities where possible; and develop sustainable and affordable housing finance markets. The most important aspect of the work is creating systems that address the needs of households at different income levels, yet also building a system that can be sustained, scaled up, and oriented to the private sector.

    We work in coordination with other parts of the World Bank and IFC to provide a comprehensive approach that reaches across the entire housing value chain. Our core interventions include:

    Developing resilient Housing Finance Markets:

    We conduct diagnostic analysis, legal and regulatory reforms, and institution-building to create a sustainable and efficient housing finance system.

    Long-Term Funding: We design and implement solutions to improve access to longer-term finance through capital markets instruments such as liquidity facilities, covered mortgage bonds and securitization, as well as enhanced systems to incentivize longer term savings.

    Housing Finance for the Poor: We design and implement suitable solutions to expand access to lower and informal markets, including through credit markets, housing microfinance, rental housing, residential leasing, contractual savings, effective targeted subsidies, and guarantee schemes for lower and informal income households.

    Affordable Housing: We support reductions in the cost of formal housing through improved access to finance for developers; support reforms of land use and primary infrastructure, facilitating titling and permits; support the introduction of new cheaper technologies and building techniques; and support energy-efficient buildings.

    Long-term Funding Solutions: The World Bank supported the development of Mortgage Liquidity Facilities in Jordan, Egypt, Nigeria and Tanzania with the purpose of providing medium to long-term liquidity to lenders. More work is ongoing in Azerbaijan, WAEMU and Pakistan.

    In Nigeria, the Nigerian Mortgage Refinance Facility (NMRC) was developed as part of a wider Housing Finance Project supported by the World Bank through a US$300 million loan to the Federal Government of Nigeria. The program has three main components: i) development of a mortgage liquidity facility; ii) development of a housing finance guarantee product; and iii) development of housing microfinance pilot schemes. NMRC completed its first bond issue in July 2015, and the issuance was supported with a Federal Government Guarantee in recognition of the support that a new institution will need to go to market. As NMRC establishes itself, the objective is for it to go to the bond market on its own. NMRC has been active on multiple fronts to improve the overall market environment, including setting uniform underwriting standards for the industry, and drafting a model foreclosure law for states to consider adopting and implementing. It is now working on underwriting standards for informal incomes and Islamic finance.

    In Tanzania, a Housing Finance project created the Tanzania Mortgage Refinance Company (TMRC). Alongside TMRC, the project aims to help the housing microfinance sector grow and take concrete steps to expand the supply of affordable housing. The mortgage market continues to grow at a strong pace, stimulated by World Bank funding. Many obstacles remain, but the increased focus on housing finance is creating momentum for change and for the resolution of many impediments to market growth.

    India: Reaching the Informal Sector: An IDA loan of $100 million, channeled through the National Housing Bank of India, aimed to expand access to sustainable housing finance for low-income households, to help them purchase, build or upgrade their dwellings. The project also supports the financial institutions that target low-income and informal-sector households and help build their capacity to scale up sustainable housing finance. The entire World Bank Group has worked together in India, with IFC investing in several housing finance companies with a special focus on lending to lower-income groups. This has been supported by extensive technical assistance to lenders to better manage credit and operational risks in these new market segments.

    Who We Work With

    The World Bank Group works globally with Ministries of Finance and/or Housing/Urban Development, Central Banks, regulatory agencies, mortgage liquidity facilities, housing funds and agencies, and lenders (banks and Multilateral Financial Institutions).


  • Indiabulls Housing Finance Stock Price, Share Price, Live BSE, lic housing finance.#Lic #housing #finance


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  • GIC Housing Finance Stock Price, Share Price, Live BSE, pnb housing finance.#Pnb #housing #finance


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    PNB Housing Finance IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status, pnb housing finance.#Pnb #housing #finance


    PNB Housing Finance Ltd IPO (PNB Housing Finance IPO) Detail

    Pnb housing finance

    Save Over 60% on Brokerage & Taxes

    We can help you save between 60% to 90% brokerage fee & taxes. Contact us today.

    Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India’s No. 1 IPO Investment Portal.

    Company’s target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

    The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.

    1. Fifth largest HFC in India and the fastest growing HFC among the leading HFCs in India

    2. Strong distribution network with deep penetration of key Indian urban centres

    3. Scalable operating model and centralised and streamlined operational structure

    4. Access to diversified and cost-effective funding sources

    5. Diversified product offering with specific focus on self-employed customers

    6. Customer-centric approach resulting in strong brand recognition

    7. Prudent credit underwriting, monitoring and collection processes

    8. Managed by experienced and qualified professionals with strong industry expertise

    9. Support from their parent and promoter PNB

    Company Promoters:

    The Promoter of the Company is Punjab National Bank (“PNB”). PNB (directly and through its nominees) holds 64,730,700 Equity Shares which constitutes 51.00%, of the Company’s pre-Issue paid-up and subscribed Equity Share capital.


    GIC Housing Finance Stock Price, Share Price, Live BSE, gic housing finance.#Gic #housing #finance


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    Steps to Buying a Home, CA Housing Finance Agency, housing finance.#Housing #finance


    Homebuyers

    CalHFA understands that buying a home is a huge responsibility; it is also a huge opportunity. Owning your home means you can paint the walls with your favorite color, plant flowers and vegetables if you choose and plant the seed for an investment in your future.

    Of course, before you leap into all of the benefits of homeownership, you should get prepared first. To help you get ready and get the most out of CalHFA s loan programs and assistance, follow these easy steps.

    Your Steps to Homeownership with CalHFA

    Step 1

    Learn about CalHFA s financing options and eligibility requirements.

    Most people borrow the large amount of money they need to buy a home. This type of borrowing is called a first mortgage loan. There are also mortgage loans that can help out with down payment or closing costs, called junior loans.

    CalHFA has first and junior loan options for low to moderate income families, including low to zero interest rate down payment assistance loans. Although many of our programs are for first-time homebuyers, you do not need to be a first-time homebuyer to use CalHFA’s FHA and Conventional first mortgage loans. CalHFA does not accept loan applications directly. A CalHFA approved Lender will qualify you for a home loan, so you will need to apply with one of our Preferred Loan Officers or approved Lenders (See Step 2). You can find the details about CalHFA mortgage loans by clicking the Loan Programs tab above.

    You ll also want to look at our income limits, sales price limits, and other eligibility criteria. You can find out more by clicking on the Borrower Property Eligibility tabs above. Another option is to use our Eligibility Calculator to see what programs are right for you.

    Don t forget to check with your local housing authorities and agencies for additional down payment assistance that you can use with CalHFA s first mortgage and down payment assistance loans to lower your overall monthly mortgage payment.

    Step 2

    Talk to a CalHFA Preferred Loan Officer to get pre-qualified for a loan amount.

    After determining if you are eligible for a CalHFA home loan, the next step is to speak to a knowledgeable loan officer and get pre-qualified to determine how much of a loan you can afford. You may also use a prequalification calculator to give you an idea of where you stand financially before contacting one of our Preferred Loan Officers. Lenders will figure how much you can borrow based on a formula. This formula considers your gross income, current debts, new mortgage payment (including taxes and insurance), and credit. CalHFA teams up with a number of preferred loan officers who know all about our programs, financing, documentation, eligibility and other details. Click on the Find a Loan Officer tab above to contact a Loan Officer in your area.

    Step 3

    Attend a homebuyer education course if you are a first-time homebuyer.

    If you are a first-time homebuyer, and have been pre-qualified, you must attend a homebuyer education course. This education will help you understand the importance and responsibilities of homeownership. In order to obtain a CalHFA home loan, your loan officer must produce your certificate of completion from one of the following entities:

    Step 4

    Figure out your needs and wants.

    Make a list of the things you’ll need to have in your home, and a list of things you ll want in your home. Ask yourself how many bedrooms and bathrooms you’ll need and get an idea of how much space you want. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard for your kids and/or pets to play in?

    Once you’ve made a list of your must-haves, don’t forget to think about the kind of neighborhood you want, types of schools in the area, availability of public transportation, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns as well as the rate of home appreciation in the area. Choosing where you are going to live should be done with care.

    Step 5

    Start looking for a home.

    This is the time to employ a real estate agent. A real estate agent will assist in finding a home within your budget and help you make an offer on the home. They ll also know about open houses and help you through much of the paperwork involved in the home purchase.

    Once you ve found a home that fits most of your needs and is in your price range, make an offer through your real estate agent. If your offer is accepted, congratulations! If not, don t lose heart, and don t feel pressured into making an offer that s outside your budget; there are other homes just waiting for the right new owner.

    Frequently Asked Questions (FAQs)

    1. Do I qualify for CalHFA programs?

    To determine your eligibility, you can review the information provided under the Borrower Eligibility tab above.

  • What is the FICO Score requirement?

    FICO score requirements will vary for each program, but the minimum score is between 640 and 680, depending on some other factors. A Preferred Loan Officer can assess your financial situation and tell you what score you ll need to qualify.

  • What programs are available?

    CalHFA offers a variety of first mortgage and down payment assistance programs. You can find details on all of these programs under the Loan Programs tab.

  • What is the interest rate?

    Interest rates will vary depending on your financial circumstances, lender fees, and other factors. Interest rates can also change daily. We recommend that you check with a loan officer to receive an accurate rate quote.

  • What are the income limits?

    Income limits vary according to program and the county in which the property is being purchased. It’s best to review the individual Program Descriptions to determine the income limit in your area. You can find the details for income limits in the borrower requirements section of each Program Description.

  • For more FAQs visit our knowledgebase.

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    PNB Housing Finance IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status, pnb housing finance.#Pnb #housing #finance


    PNB Housing Finance Ltd IPO (PNB Housing Finance IPO) Detail

    Pnb housing finance

    Save Over 60% on Brokerage & Taxes

    We can help you save between 60% to 90% brokerage fee & taxes. Contact us today.

    Incorporated in 1988, PNB Housing Finance Ltd, a subsidiary of Punjab National Bank offers housing loans to individuals and corporate bodies for the construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, purchase of residential plots, loan against properties, and loans for real estate developers. Information in this paragraph is provided by chittorgarh.com, India’s No. 1 IPO Investment Portal.

    Company’s target customers for housing loans are salaried customers, whose main source of income is salary from their employment, and self-employed customers, whose main source of income is their profession or their business. Visit chittorgarh.com for more detail. They also offer housing loans in the form of construction finance loans to real estate developers of residential housing.

    The company has Pan India presence in more than 40 locations through a network of 48 branches. Company’s 16 hubs are located at New Delhi, Bengaluru, Chandigarh, Chennai, Noida, Jaipur, Dehradun, Lucknow, Kolkata, Cochin, Coimbatore, Mumbai, Pune, Ahmedabad, Indore and Hyderabad which support branch operations. The company provides doorstep service for its products via Direct Sales Team (DST) channel. Other than the DST channel, company’s Home Loan and Loan against Property business is also sourced via Direct Marketing Associates (DMA) and Digital Medium.

    1. Fifth largest HFC in India and the fastest growing HFC among the leading HFCs in India

    2. Strong distribution network with deep penetration of key Indian urban centres

    3. Scalable operating model and centralised and streamlined operational structure

    4. Access to diversified and cost-effective funding sources

    5. Diversified product offering with specific focus on self-employed customers

    6. Customer-centric approach resulting in strong brand recognition

    7. Prudent credit underwriting, monitoring and collection processes

    8. Managed by experienced and qualified professionals with strong industry expertise

    9. Support from their parent and promoter PNB

    Company Promoters:

    The Promoter of the Company is Punjab National Bank (“PNB”). PNB (directly and through its nominees) holds 64,730,700 Equity Shares which constitutes 51.00%, of the Company’s pre-Issue paid-up and subscribed Equity Share capital.


    Home Loan – Compares Rates & EMI of SBI, HDFC, ICICI, Axis, PNB, DHFL, LIC at Deal4loans, lic housing finance.#Lic #housing #finance


    HOME LOAN

    Home loan is really critical and important financial decision in our lives. Before you finalise your bank to secure home loan, try to get more information on current interest rates from different banks. First, gather some more information about how much each bank can give you. Find out eligibility for government and private banks. Which interest rate is more flexible and affordable such as fixed rates or floating rates? What is more easy a prepay option or balance transfer? We try to give answers to all such questions, and make this home loan process simple for you. To find the lender for 20 years term go through the fine print and save for years to come. A perfect Home loan is loan which gives you lowest rates throughout the tenure, has part payment options and allows you to balance transfer if you wish to.

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    Should I take Home loan now or wait ?

    The right time to take a Home loan is when:

    • The Property you intend to buy is good and cannot be missed or it is expected that the price of property will rise.
    • The EMI that you have to pay per month is above your monthly expense budgets etc.

    Bonanza for home loan seekers as govt. offers interest subsidy for those earning 6 lakh – 18 lakh. The scheme has been envisaged for one year. Those who have been sanctioned housing loans and whose applications are under consideration since January 1 this year are also eligible for interest subsidy. Prime Minister Narendra Modi had earlier announced an interest subsidy of 4 per cent on housing loans of up to ₹9 lakh for those earning up to 12 lakh per year under PMAY SCHEME 2017. A subsidy of 3 per cent on housing loans of up to 12 lakh for those earning up to 18 lakh per year.

    Major Home Loan providers in India

    The first step involved in the process is to find your property, which is followed by the verification of property documents, post that the documents are examined. Simultaneously, you can start searching for the lender who can offer the best home loan deal after checking your eligibility criteria.

    Know the Home Loan Eligibility: Banks offer the loan amount based on your monthly income and the value of the property. They will give you max amount in which your EMI of home loan and others loans is 50-60% of your income. Other factor is value of that property.

    Applying for the Loan : After you have selected your lender, you have to fill in the application form, wherein the lender requires complete information about your financial assets liabilities; other personal professional details together with the property details its costs.

    Documentation Verification Process: You are required to submit the necessary documents to the bank, which will be verified together with the details in the application

    Bank sanctions Loan Offer letter to the borrower: After the credit appraisal of the borrower bank decides the final amount sanctions the loan, the bank further sends an offer letter to the borrower, which constitutes the details like rate of interest, loan tenure repayment options etc.

    Bank checks the legal documents: The bank further asks the legal documents of property from the borrower to check its authenticity, so as to keep them as a security for the loan amount given. The next step involved is the valuation of the property by the bank which determines the loan amount sanctioned by the bank.

    The borrower signs the loan agreement the bank disburses the loan amount.

    Documents required in Home Loan

    Generally, the documents required to process your loan application are almost similar across all the banks; however they may differ with various banks depending upon specific requirement etc. Following documents are required by financial institutions to process the loan application:

    • Income
    • Age Proof
    • Address Proof
    • Income Proof of the applicant & co-applicant
    • Last 6 months bank A/C statement
    • Passport size photograph of the applicant & co-applicant

    How is my Home loan Eligibility Calculated

    • Income
    • Qualifications
    • Age
    • Spouse s income
    • No. of dependants
    • Stability and continuity of occupation
    • Assets/LiabilitiesM.
    • Savings history.

    The most important concern of banks in determining your loan eligibility is that whether or not you are contentedly able to pay off the amount you borrow.

    Fixed and floating rate of interest

    When you avail a home loan EMI is calculated either on fixed rate of interest or according to the floating rate of interest. Before finalizing either, you must take a note of both the patterns and take a well-calculated decision. Generally, home loan is taken for a longer tenure compared to other loans such as personal loan or car loan. You borrow the loan for at least for10 years and maximum upto 30 years. In such scenario, you end up paying a huge amount as interest on your principal amount. Therefore, the difference of 0.5% can make huge impact on your overall interest amount. Let’s take a close look at both the patterns of interest.

    Fixed rate of interest: Generally, in fixed rate of interest, the percentage of interest is fixed for whole tenure and same percentage of interest is charged throughout the loan. It makes the EMI payable at a constant sum throughout the tenure. Therefore, it is always recommended that you opt fixed rate of interest only when the rates are bottom down and if an upward trend is expected.

    Floating rate of interest: Floating rates of interest changed with the market lending rates. Therefore, these rates are prone to fluctuations. The interest rate on your EMI might get increased or decreased depending upon the fluctuation in the market lending rates. In this case, bank provide an alternative to increase the tenure of the loan, at a constant EMI, for the borrowers who do not desire their EMI to be increased in case of higher interest rates.

    How to calculate interest rate?

    While applying for a home loan, the most important question is rate of interest. One more thing, which is equally important is how interest is calculated by respective bank. Banks are required to quote interest rates on a ‘reducing balance’ basis. Let’s take a look how this whole formula works:

    For instance: You have taken a loan of Rs. 1 lakh for a period of one year at an interest rate of 10.00% per annum, on a monthly reducing balance basis. In this situation, you will pay 12 equated monthly instalment’s (EMIs), with a part of each EMI going towards repaying the principal amount borrowed (Rs 1 lakh), and the balance towards servicing the interest on your loan. What is important to note is reducing balance calculation is the interest component of your EMI keeps changing, from a high initial amount in the early part of your loan, to a nominal figures as the loan comes to an end.


    GSA and GIC acquire portfolio of 7, 150 UK student beds from Oaktree, gic housing finance.#Gic #housing #finance


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    • GSA and GIC acquire portfolio of 7,150 UK student beds from Oaktree

    GSA and GIC acquire portfolio of 7,150 UK student beds from Oaktree

    London, 29 September 2016 – In a partnership between GSA, the global student accommodation leader and GIC, Singapore’s sovereign wealth fund, GSA announces that it has acquired a 7,150-bed UK student accommodation portfolio from funds managed by Oaktree Capital Management, L.P. (“Oaktree”).

    The transaction is the UK’s largest student accommodation deal so far this year. The portfolio has been built within the last three years and includes 3,634 operational beds across nine purpose-built student accommodation properties located in six top university cities: Liverpool, Bristol, London, Edinburgh, Cardiff and Southampton. The deal also includes a pipeline of 3,516 beds in five cities: Plymouth, Portsmouth, Birmingham, Bournemouth and Cambridge, which GSA will rapidly bring on stream over the next 30 months.

    Separately GSA has acquired from Threesixty Developments, the operating platform of The Student Housing Company, which has won best private halls operator for three years in a row. The properties are fully let for the 2016/17 academic year on a mix of direct student lets and university nomination agreements. GSA will take over the full operational management of the portfolio with immediate effect.

    This acquisition and GSA’s partnership with GIC underlines the group’s ambition and rapid expansion plans. GSA is now one of the most significant student accommodation operators in Europe and the only operator with assets in nine countries globally.

    Nicholas Porter, founder and chairman of GSA said: “I am very pleased to renew a longstanding relationship with GIC and announce our partnership. This top quality portfolio will give GSA a stronger foothold in the UK market, where the high demand for university places continues to drive the need for well-managed, purpose built accommodation. The Student Housing Company brand will come into the GSA family, alongside our Asian and European student brand Uninest, allowing us to pioneer the management of multiple brands under one umbrella.”

    Ms Madeleine Cosgrave, Regional Head, Europe, GIC Real Estate, said: “GIC is pleased to partner GSA, which is among the leading developers and operators of student housing globally. The high-quality assets are located close to university campuses and city centres. As a long-term value investor, we believe student accommodation will be a sector that continues to deliver steady rental growth and resilient income returns amidst a challenging, low-yield environment.”

    GSA’s advisers on the transaction were Nabarro and PWC.