Nawaz Sharif Mayfair, Park Lane Properties Truth & Money Laundering

nawaz sharif park lanePML-N leaders have said different thing about Nawaz Sharif Mayfair/Park Lane properties. Khawaja Asif said in a talk show Hasan Nawaz went to UK in mid 90s and it was bought at that time. Pervaiz Rasheed in another talk show said that Hasan Nawaz bought these properties after 2001 when Sharif family was not allowed to enter Pakistan during Musharraf government. Chaudhry Nisar in a press conference said that it was bought in 1990s. Zaeem Qadri during talk show said that it was bought in 1970s.

PML-N leaders have also said hundered times that there was no mouney laundering done and money was borrowed from UK banks for buying these properties.

We always hear that Hasan Nawaz went to United Kingdom 16 years ago. What is his residential status? How come he is living for 16 years in UK? With regard from borrowing money from UK banks, it looks PML-N are not telling the truth. First of all someone who does not live in UK, banks donot give them mortgage because you don’t have any credit history. Unless you give 35% to 40% down payment plus 10% cash in the accounts, if the property value is less than 1 million pounds.

However in case of properties over a million pounds (which is Hasan Nawaz case) the bank requires the cash of 50% so if the properly if is 1 million pounds bank will ask you to pay 50% which is half a million pound so if Hasan Nawaz has 10 properties whose total is 100 million pounds, no bank would have given him 50 million pounds mortgage unless 50 million pounds were deposited by Hasan Nawaz and 10% of cash to prove that he can make payments for it.

If we do simple math the total money require to get a 50 million pounds mortgage is 55 million dollars. Where did these 55 million pounds come from? And then how the monthly payments for the mortgage which are approximately 200,000 pounds per month are made since then?

The questions which PML-N should reply are

  • What criteria UK banks used to determine that Hasan Nawaz is qualified for 100 million pounds?
  • How did Hasan Nawaz satisfy the banks that he can make payments for the 50 million pounds mortgage?
  • How was 55 million pounds transferred from Pakistan to UK?
  • What is the residential status of Hasan Nawaz in UK?
  • And when exactly these properties were bought?
By Iftikhar Zaidi