|
 HOUSING
LOAN
PLAN
-
EMIRATES
You
have
reached
a
decision
to
buy
a
new
house
in
Lebanon.
In
order
to
assist
you
to
fulfill
this
big
dream,
we
have
created
a
new
housing
loan,
especially
tailored
to
your
needs.
Who
is
eligible?
Company
employees
who
have
spent
more
than
two
years
in
their
current
employment,
or
self-employed
professionals
with
a
regular
income
who
have
been
working
in
the
same
occupation
for
the
past
three
years.
The
plan
is
available
to
applicants
whose
age
will
not
exceed
55
years
on
maturity
of
the
loan.
How
much
money
can
I
borrow?
Up
to
40%
of
the
value
of
the
house
for
self-employed
professionals
and
up
to
50%
for
company
employees,
with
a
minimum
amount
of
USD
25,000.
How
long
is
the
duration
of
the
loan?
Your
loan
can
be
spread
over
a
maximum
period
of
7
years.
What
are
the
Terms
of
the
Loan?
Property
Conditions:
a)
First
degree
mortgage
over
property
in
favour
of
the
Bank.
b)
Property
must
be
in
good
condition
and
conforms
with
the
local
zoning
and
construction
codes.
Repayment
Conditions:
a)
Employed
applicants:
monthly
installments
not
to
exceed
one
third
of
monthly
income.
b)
Self-employed
applicants:
monthly
installments
not
to
exceed
one
fourth
of
average
monthly
income.
Insurance:
Assignment
to
the
Bank
of
a
Life
and
Disability
Insurance
Policy
and
a
Fire
Insurance
Policy
for
the
entire
duration
of
the
loan,
and
equivalent
to
120%
of
the
total
loan
amount.
Documentation
Required:
a)
Employed
applicants:
a
letter
from
the
employer
confirming
annual
income,
period
of
employment
and
position,
including
confirmation
from
the
employer
for
the
irrevocable
salary
transfer
to
Emirates
Bank
International.
b)
Self-employed
applicants:
financial
statement
covering
the
last
3
years
of
business
activity
and
Bank's
statement
of
account
for
the
same
period.
c)
Confirmation
of
personal
assets.
d)
Copies
of
both
personal
and
family
identity
cards.
e)
Copy
of
a
clean
title
deed
(recto/verso)
f)
Copies
of
work
permit
and
residence
visa.
g)
Copy
of
the
purchase
contract
of
the
house
and
receipt
confirming
the
amount
of
the
down
payment.
Whom
Do
I
Contact?
For
Further
information,
please
contact
our
UAE
representatives
Tel:
971-4-2092686
or
971-50-6246774
The
Bank
reserves
its
right
to
request
additional
security
or
to
decline
any
request
for
a
Housing
Loan.
Procedure
for
Housing
Loans
From
Bank
Of
Beirut
[All
Arab
Countries]
-
[All
European,
USA
&
Australian
Countries] |
