The Central Bank and lenders have reached an agreement on limits to mortgage lending for Emiratis and expatriates.
Under the rules, which are expected to be officially announced soon, the mortgage cap for first-home buyers will be set at 80 per cent of the purchase price for UAE nationals, and 75 per cent for expatriates.
Central Bank officials agreed to introduce proposals from the UAE Banks Federation at a meeting in Abu Dhabi on Wednesday.
Second and third-home loans for Emiratis will be capped at 65 per cent of the purchase price. For expatriates, that figure will be 60 per cent.
Read more: http://www.thenational.ae/business/property/central-bank-and-lenders-reach-accord-on-uae-mortgage-cap#ixzz2OvSHyHcp
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