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Jun, 02 2018

HSBC Introduces Home Loans in Abu Dhabi

HSBC announced the introducing leasehold properties in Dubai.

HSBC Introduces Home Loans in Abu Dhabi

HSBC has announced that they are launching home loans for selected properties in Abu Dhabi as increased customers demand.

Eligible prospective home buyers interested in the Abu Dhabi market can have secure home finance with HSBC for completed residential properties by Aldar Properties and Tourism Development & Investment Company (TDIC).

HSBC announced the introducing leasehold properties in Dubai.

The head of Retail Banking and Wealth Management, UAE, HSBC Marwan Hadi, said, “These steps form part of our growth strategy to expand our mortgage portfolio and provide choice, convenience and access to our customers.”

"Earlier in the year, we partnered with three mortgage brokers to widen the availability of our competitive home loans. These brokers will also cover Abu Dhabi and leasehold lending in Dubai.”

HSBC has partnered with Allsopp & Allsopp Mortgage Services, Home Matters and Lion Mortgage to expand their mortgage distribution in the UAE.

HSBC’s Beyond the Bricks 2.0[2] report said 76 percent respondents in the UAE intend to become homeowners in the future and the top two financial reasons for intenders to buy are for investment purposes and to fund a mortgage rather than pay rent.

Hadi said, “Attractive opportunities in the housing market are encouraging more people to consider owning a home in the UAE. We will cater to that demand and provide access to locations our customers want. We are looking to cover more developers in Abu Dhabi in the future.”

They are Financing up to 80 percent of the property value for UAE nationals, and 75 percent for expats.

 

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