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Byblos Bank Group
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Expatriate
Housing Loan (For Lebanese expatriates only)
As a
Lebanese, you probably feel most at home in Lebanon where you
are known, respected and loved. The success you have achieved
in abroad can be brought to Lebanon by:
Being
a successful person, you may have your money tied up in other
ventures. This is where Byblos Bank’s
Expatriate
Housing Loan
can provide the solution.
This Loan is
affordable, convenient
and easy
to apply for:
Building Strong Bridges for Lebanese Expatriates
Byblos Bank is carefully building bridges
with the Lebanese expatriates at the four corners of the
globe, based on confidence and professional diversified
skills. We customize compatible solutions to your various
demands.
|
Consumer Loan |
Expatriates Housing
Loan |
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Purpose |
To buy a finished house
located in Lebanon only |
|
Applicant Profile |
- Lebanese non-residents.
- Maximum age not to exceed 64 by the end of the loan
period.
- A minimum of two years working experience.
- Minimum net monthly income $ 750.
- Monthly payment should not over pass 1/3 of the salary
for employee |
|
Amount |
Min. $20,000 - Max. $
200,000 |
|
Interest Rate on USD |
Regressive: Libor + 5%
(MINIMUM 8%) on USD, reviewed annually.
Fixed rates will be determined upon presentation of the
application. |
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Repayment Period |
7 to 15 Years |
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Required Guarantees ** |
- A first mortgage on the
property covering 125% of the loan amount for the
duration of the loan.
- Life, permanent and total disability, and war risk
insurance covering 110% of the loan for the duration of
the loan, with the Insurance Co. "A.D.I.R.", member of
the Byblos Group.
- Fire, neighbor liability, and earthquakes insurance
covering 110% of the loan for the duration of the loan,
also with "A.D.I.R.". |
|
Distinctive Feature |
- The financing level is
up to 70%.
- If loan period is > or = to 7 years and house value is
< or = to $120,000, no mortgage fees and no stamp fees
- If you are Lebanese and working in UAE, you can apply
through Bank of Sharjah.
- You can design a proxy or a relative to represent you
during the mortgage and registration operation. |
(**)The
Bank reserves itself the right to request any additional
guarantees when necessary.
Benefits:
Safeguarding you from future drawbacks
related to the real estate purchase, through Byblos Bank’s
checklist that protects you against:
Fees (Upon approval):
File fee of USD350
payable up-front, to cover surveyors and other administrative
costs.
If the bank is
requested by the applicant to obtain documents on his/her
behalf, then an additional fee will be applied (presently
estimated at USD100 is payable up-front).
Required
Documents
Personal
Employment
. |
Copy of
employment contract.
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A
certificate of salary as per Byblos Bank specimen (if
employee). |
On the Property
You can
also apply for the loan through:
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. |
Bank of Sharjah,
P.O. Box-1394, Sharjah, UAE.
Tel. No.
5694411, Fax: 5694422. |
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