Latest in Tag: mortgage Highlight
Latest in Tag: mortgage
FRA increases mortgage finance installment to 50% of income
The decision came in recognition of various economic variables, especially higher inflation, which required changing the rules regulating non-banking financial activities to ensure the continuity of its important role in helping individuals and institutions meet their financing and investment needs.
Demand for mortgage financing increased by 94% in just 8 months: New Cairo Developers Association
Mortgage financing is the main solution to overcome the hikes in real estate prices: Chairperson
Banks pump EGP 48.3bn in mortgage finance for low-income segment in September 2022
NBE is in the lead, with EGP 13.7bn in funding
Mortgage finance initiative for low-income housing records EGP 49.26bn in August
National Bank of Egypt tops the list of mortgage finance providers by EGP 13.206bn, benefiting 118,900 customers
Proposal to provide mortgage for under-construction units stimulates local market, but needs CBE support
The value of finance provided by mortgage finance companies amounted to EGP 8.1bn in 2021, and reached nearly EGP 4bn in the first quarter of the current year. The Committee targets mortgage finance in Egypt to reach approximately EGP 16bn by 2026.
Easy mortgage procedures, subsidised interests essential for property market survival: FEI official
Shoukry noted that the global and local economies are witnessing a hike in prices of many commodities, including building materials which led to price spikes in construction costs, which in turn increased selling price to customers. Accordingly, mortgage finance is the best solution to maintain an active market.
Qasatly for consumer finance plans to attract $2m investment in 2022
Firm attracts 6,000 users since its debut in Egyptian market in April 2020: Founder
CBE amends mortgage finance initiative for middle-income people
Bank extends repayment period to 25 years, increases maximum unit price to EGP 2.5m
Egypt opens reservations for fully finished housing units under new mortgage initiative
Move comes as part of ‘Housing for All Egyptians’ initiative for mortgage finance with 3% interest rate
Central Bank of Egypt initiates EGP 100bn mortgage finance initiative for low, middle incomers
Initiative offers unprecedented facilities, 3% diminishing interest, and longest repayment period up to 30 years
New Cairo Developers, mortgage companies cooperate to ease financing conditions
Al-Wazir added that the local real estate sector needs such initiatives to help customers overcome financing problems.
Bedaya launches Egypt’s first non-bank mortgage finance app
Application will provide fastest, easiest access to competitive mortgage financing solutions through seamless financing process
CBE to announce details of new presidential mortgage finance initiative soon
Proposed mortgage finance initiative to boost real estate sales
Egypt’s Al-Sisi orders launching new mortgage finance programme with 3% interest
New programme is directed at low- and middle-income Egyptians to support their ability to own housing units
Mortgage Finance Fund approves EGP 42bn budget for FY 2021/22
Fund’s board approves guideline for complaints and suggestions which will be published on its website
FRA amends financial solvency standards to mortgage finance companies
The amendment covers the issuance of a regulatory procedure to adjust mortgage finance activity.
Egypt mortgage finance drops 84.2% in April
Mortgage Finance Fund did not provide any funds during April, says FRA
Mortgage finance companies likely to provide EGP 3.5bn loans in 2021
Mortgage finance is safe haven for real estate investments in current period, says Abdel Hamid
FEI, Banque Misr cooperate to revitalise CBE mortgage finance initiative
Real Estate Development Chamber’s cooperation with Banque Misr will overcome global health crisis, says chamber chairperson
City Edge, Al Oula partner to offer mortgage financing plans
Partnership offers three payment systems for City Edge clients, with maximum 80% limit of housing unit value, says Hussein
Mortgage finance companies provide funds of EGP 423m in two months
Investors with incomes of up to EGP 2,500 acquired EGP 18m in 171 mortgage contracts during the first two months of 2020. This compared to EGP 90.6m in 861 mortgage contracts in the first two months of 2019.
Mortgage finance increases 46.6% yoy in January: FRA
The FRA said that the value of mortgage refinancing decreased to EGP 14m in January 2020, compared to EGP 101m in the same period last year. This marks an 86% decline.
Developers demand continuous, unlimited financing mechanism of mortgage loans
Egypt’s Ministry of Housing demanded the provision of logical payment periods for residential units instead of long payment periods.
20 banks finance 254,200 beneficiaries by EGP 24.6bn in CBE’s mortgage finance initiative
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
EMF Launches Accredited Mortgage Programme in November
Established in 2015, under the supervision of the Egyptian Financial Regulatory Authority (FRA), the EMF currently has 28 members involved in developing the mortgage finance industry in Egypt
Mashreq Bank – Egypt launches mortgage finance initiative to support low-income groups
Bank continue to participate in CBE initiatives, says El Bahey
TMG, GB Capital, EFG Hermes launch mortgage finance company
New partnership will offer long-term, competitive mortgages, increasing affordability to better serve Egypt’s growing population of homebuyers
CBE sets new controls for mortgage finance initiative for low-income individuals
Mortgage finance will be provided for clients who meet CBE’s conditions
Housing Ministry studying alternative to expand mortgage finance system: Deputy Housing Minister
CBE’s mortgage finance initiative was not effective for most real estate companies, say developers
CBE limits mortgage initiative to low-income after earmarked EGP 20bn runs out
NBE, HDB, Banque Misr, Banque du Caire, IDB top list of banks participating in CBE initiative with total funding of EGP 15.7bn to 165,800 clients