The Best Home Loans in Bangladesh

Everyone wants him to have a new home. But it is a dream for many, and fulfilling this dream is not possible for everyone. Buying a nice flat in later life is the perfect place to live in our own home, live a rent-free life, create wealth for generations, and create lifelong memories.

Buying a home is a huge deal for anyone in the world. But it requires time, planning, effort, and most importantly money. Sometimes it takes decades to save enough to own that dream home, and our previous generations have to do the same.

Moreover, limited job opportunities in our small towns have pushed large numbers to migrate to metro cities and thus encouraged urban settlement and resettlement.

Who dreams of buying a dream home/flat?

So, times have changed a bit now, and the definition of economy is also changing where low-income people are making their dreams a reality. This new form of economy is modernity, all small and big countries have now got the impression of modernity. An important aspect of this is globalization where there are new job opportunities and economic equalization as the world’s largest companies across their business borders to become multinational companies and this has an impact on smaller economies as well.

So now Bangladesh is not lagging in this race, many multinational companies have established industries in our country and the wheel of the economy is becoming very smooth. When the economy impresses the common man, the touch of modernity also comes, so the residential buildings are being built of modern quality and are available at affordable prices. House building companies are doing very well in Bangladesh now and there is a lot of demand. Common people are also trying to take the opportunity to buy a dream house or flat in the first part of the job.

In this blog, we have tried to highlight the information of companies with low interest, good quality, and strong future thinking so that no one gets cheated to buy his dream house. If someone is cheated or takes a loan at exorbitant interest to build his dream house, then he has to bear this burden for the rest of his life.

Read: Dhaka Bank Home Loan In Bangladesh

What does the dream of a big flat or apartment or house mean?

Dreaming of a big house and a luxurious flat or apartment means that you are one step closer to fulfilling your dreams in your future and on the right path in life. Dreaming of a large residence means you are going to have a big effect on your economy. At some point, you will surely be able to fulfill it.

What does the dream of a small flat or apartment or house mean?

A dream about a small or cluttered apartment indicates financial or emotional turmoil in your life. Financially you don’t dream of growing up too much.

How to Financial Planning for Flat Purchase?

Plan your flat purchase with our financial planning development and create your budget using financial implements.

We aim to help customers find their best options and make their decision as easy as possible. Looking ahead to 2022, check out the following considerations before jumping on the best home loan:

You must consider the following factors:

Title Verification to be done

The buyer should confirm the property’s title’s existence and validity as a preliminary step. The property must be free of any mortgages or previous unpaid dues.

Seller identity verification is required

It is important to check all the flat documents and verify the seller’s identity. Emphasis should be placed on verifying valid legal documents like National ID, Passport or Citizenship, etc.

In the case of the seller, check the legal documents related to his organization, company registration, tin certificate, etc.

Documents relating to land

Determining the type of land is an important step as it has to see what type of use the land falls under such as residential, commercial, industrial, non-agricultural, mixed-use, etc. Several state and national laws prohibit the use of land for purposes other than those for which it is intended. If the usability of the land is valid, refer to the land conversion documents.

Also, it is important to check the master plan and check whether the property is developed as per the zoning plan – i.e., public/semi-public, residential, park and open space, commercial, industrial, etc.

Certificate of Occupancy or Registry Authorization

The seller must obtain an Occupancy Certificate (OC) before transferring the property.

Approval of building construction

In the case of an already constructed building, verification of the building or layout plan is required. Government services running outside the rules are not available such as electricity, water, environmental clearance, fire safety, etc. to be approved by municipal authorities, government agencies, statutory and regulatory authorities, etc.

Mortgages and other claims

Check the official website carefully where all information about property registration is available. If the flat or the building or the land is in dispute for any reason, then the existing liability will likely fall on you. In this case, you can issue a public notice in a newspaper before completing a financial transaction.

Payment of building or flat tax

If the seller does not pay the property tax, it will incur higher penalty charges, further weakening the value. Be sure to check with the authorities that the seller has not defaulted on tax payments.

Verification of No Objection Certificate

Ask the seller to show copies of various no objection certificates issued by various departments like the pollution board, environment department, sewage board, communication, and other departments, etc.

Direct physical survey and property access

The buyer needs to check the property through a physical survey/visit. Accurately check that the measurements match the documents and check the information as promised. For that, you need to know the physical survey site route, surrounding area, connectivity options, and such features.

Compliance under Real Estate Regulatory Authority

Last but not least – check whether the property is registered under your locality registration office.

Since the investment is huge after all, it is always better to be extra cautious while buying a flat or property. That is why it is advisable to get professional legal advice for proper scrutiny of all legal documents and to see important information correctly.

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