banking beyond borders

Procedure for Housing Loans From Bank Of Beirut

[All Arab Countries] - [All European, USA & Australian Countries]

All Arab Countries

- Applicant should sign:    - The credit application
                                       - The "centrale des risques" for Lebanon and one for the country where the
                                          product is launched if they have a similar system.
- He should provide the following documents :
                  - For employees: employment letter including all details: date of employment, position, salary
                    (fixed, commissions...) and benefits provided by the company (form attached).
                  - For self-employed: financial statement covering the previous three years of business activity
                     and banks statement for the same period.
                  - Copy of a valid passport.
                  - Family I.D, if possible.
                  - Copy of work permit and residence visa.
                  - Confirmation of personal assets.
                  - Copy of the purchase contract, if already done with copy of the title deed, and proof of
                     partial payment. Noting that the apartment subject of the loan should be allotted and clear of
                     any charge.

Conditions

• Eligible persons:
                     - Employees of Companies who have been working in the same current company for
                       at least two years.
                     - Self-employed professionals with a regular income and who have been working in
                        the same occupation for the past three years.
• Financing up to 50% of the cost of the apartment to be purchased for the employees and 40% of its cost for the self-employed.
• Loan for a maximum period of 7 years.
• Repayment to be by monthly installments which should not exceed one third of the client's monthly salary for employees and one quarter for the self-employed.

                 - First degree mortgage to our favor on the apartment to be purchased for 125% of the
                    amount of the loan.
                 - Life insurance to our favor for 120% of the amount of the loan. The age of applicant should
                    not exceed 55 years at the maturity of the loan.
                 - Fire insurance to our favor for 120% the amount of the loan, to be done through our  Broker
                    in Lebanon.
                 - The co-signature of the spouse, if working, is required.
                 - Irrevocable salary transfer of the applicant to his account (to be opened if not existing) with
                    the foreign Bank (form attached).
                 - Permanent and irrevocable instructions to the foreign Bank to transfer the amount of each
                    bill, upon its maturity to his account with Bank Of Beirut
                 - Engagement from the said bank to transfer the amount of each bill to his account with us.

- Upon the execution of all securities and conditions requested, the seller will receive the net amount of the
   loan i.e gross amount minus the insurance (life and fire), appraisal and file fees.

N.B: Non resident can designate a relative or lawyer in Lebanon to execute all procedures on his behalf by special proxy authenticated by the Lebanese embassy (text could be forwarded).

For more info contact Bank of Beirut at email: BankOfBeirut@Lebanon.com

All European, USA & Australian Countries

- Applicant should sign:    - The credit application
                                       - The "centrale des risques" for Lebanon and one for the country where the
                                          product is launched if they have a similar system.
- He should provide the following documents :
                  - For employees: employment letter including all details: date of employment, position,  salary
                    (fixed, commissions...) and benefits provided by the company (form attached).
                  - For self-employed: financial statement covering the previous three years of business activity
                    and banks statement for the same period.
                  - Copy of a valid passport.
                  - Family I.D, if possible.
                  - Copy of work permit and residence visa.
                  - Confirmation of personal assets.
                  - Copy of the purchase contract, if already done with copy of the title deed, and proof of 
                     partial payment . Noting that the apartment subject of the loan should be allotted and clear
                     of any charge.

Conditions

• Eligible persons:
                     - Employees of Companies who have been working in the same current company for
                        at least two years.
                     - Self-employed professionals with a regular income and who have been working in the
                       same occupation for the past three years.
• Financing up to 50% of the cost of the apartment to be purchased for the employees and 40% of its cost for the self-employed.
• Loan for a maximum period of 7 years.
• Repayment to be by monthly installments which should not exceed one third of the client's monthly salary for employees and one quarter for the self-employed.

                 - First degree mortgage to our favor on the apartment to be purchased for 125% of the
                    amount of the loan.
                 - A proxy signed by client in favor of Bank of Beirut allowing us to sell  me apartment in case
                   of failure to settle me loan.
                 - Life insurance to our favor for 120% of the amount of the loan. The age of applicant should
                    not exceed 55 years at the maturity of the loan.
                 - Fire insurance to our favor for 120% the amount of the loan, to be done through our Broker
                    in Lebanon.
                 - The co-signature of the spouse, if working, is required.
                 - Irrevocable salary transfer of the applicant to account in Bank Of Beirut or any other Bank in
                   Lebanon.
                 - Permanent and irrevocable instructions to this said Bank to transfer the amount of each  bill,
                    upon its maturity to his account with Bank Of Beirut
                 - Engagement from the said bank to transfer the amount of each bill to his account with us.

- Upon the execution of all securities and conditions requested, the seller will receive the net amount of
   the loan i.e gross amount minus the insurance (life and fire), appraisal and file fees.

N.B: Non resident can designate a relative or lawyer in Lebanon to execute all procedures on his behalf by special proxy authenticated by the Lebanese embassy (text could be forwarded).

For more info contact Bank of Beirut at email: BankOfBeirut@Lebanon.com   

All correspondence for credit applications can be sent to postal address :

Bank of Beirut s.a.l
Credit Department
P.O.Box: 11-7354
Beirut - Lebanon. 

Telephone Number: +961 1 983999
Fax Number: +961 1 983999

Bank Of Beirut - Head Office & Branches

Email:bankofbeirut@lebanon.com

Other banking products available to you from Bank Of Beirut

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