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HSBC to re-enter UAE mortgage market



Country:  UAE

31 March 2009

HSBC has announced that it will re-enter the UAE mortgage market and ease its lending rules, according to Arabian Business.

The bank, which withdrew from the UAE property market in light of the credit crunch, will now offer 75% loan to value (LTV) on completed villas, 70% on completed apartments and 50% on off-plan units, it confirmed this morning.

HSBC’s previous LTV ratio was 60% and 50% for villas and apartments.


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