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Rakbank has announced home finance solutions for a selection of complete and off-plan properties by Dubai Properties. The bank said it will extend home finance for off-plan properties such as Mudon and completed projects including Jumeirah Beach Residence, Executive Towers, Bay Square, The Villa and Remraam.
Conventional as well as Sharia-compliant home finance solutions are available for UAE nationals and expatriates, non-residents and GCC nationals. The bank said it will not require a salary transfer from customers.
“Our partnership with Dubai Properties Group gives us the opportunity to support our customers who wish to finance property in prime locations in the UAE,” said Ian Hodges, Head of Retail Banking at Rakbank.
The bank’s home finance solutions can extend up to 25 years with finance-to-value ratios of up to 80 per cent for UAE nationals and 75 per cent for expatriates for completed projects, while it is 50 per cent for off-plan projects.
Source: Property Weekly