Standard Chartered Bank has launched a unique new mortgage facility which offers non UAE residents a customised approach to avail loans of up to $5 million. With customers in mind, the mortgage process has been made easier as a result of the Bank having developed two UAE first-in-market assessment criteria specifically tailored to this affluent and high net worth sectors.
The mortgage offering was introduced after customer based research highlighted that the affluent and high net worth market did not have access to a mortgage offering that met with their needs. Standard Chartered Bank is the only financial institution in the market offering such a high loan amount to non residents. The facility is available on either new or existing properties providing they were built by one of the Bank’s registered developers.
David Inglesfield, Regional Head of Private Banking-Middle East & North Africa, said: “We have shifted from a product focus to being more customer focused and as a result we have been developing better service and product packages based around our customers’ needs rather than adopting a one size fits all approach. Through this strategy, we have built up great momentum and are maintaining this growth by continuing to invest in our business and through the development of products like this one.”
Properties built by Emaar, Nakheel, Dubai Properties, Union Properties, World Trade Center Residences, Aldaar, Al Barari, Sorouh, TDIC, Victory Heights, Manazel, ETA Star, IFAA and Zabeel can be purchased under the mortgage agreement with more developers to come on board.
Source: news release
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