Good morning,
we have a good conditions with CIB for the Hyde Park
1) Mortgage can be extended to Egyptians living abroad or non-Egyptians living in Egypt with valid work permit.
2) Mortgage house can finance up to 80% of the value of the property (the customer has to pay the first 20% and then the CIB will finance).
3) Interest rate is 11.5% for the first five years and 12% years after.
4) Mortgage to go up to 15 years.
5) Customers can choose to either pay escalating installments, fixed installments or pay the interest first and then principal (the later is good for investors)
6) Arrangement fee is 1.5% of the value of the loan (paid once at the initiation of the deal).
7) The customer should make a life insurance with the value of the loan and make the CIB as the beneficiary under this policy.
8) We can finance in LE or US$ (however, in US$ financing, the customer must prove that he/she has income stream in US$).
9) We can finance employees and self employed as well (however, for self employed, they can finance up to 65% of total value of the property).
10) Customer will receive (on the spot) a preliminary approval on the loan amount and schedule of monthly payments, providing that all information he/she gave to the Mortgage house if correct and providing that he passes the medical test "for life insurance considerations").
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