‘Easy loan’ offered by Dubai Properties, Standard Chartered

Dubai Properties and Standard Chartered Bank are going to offer 'Easy Loan' mortgages to the buyers and owners of residential units at the Executive Towers.

Standard Chartered Bank shall make the loans available to the customers after evaluations done by independent surveyors, and would require the least documentation. The loan would be made available to those residents of the UAE, who fulfill the eligibility criteria.

Mohamed Binbrek, CEO of DPG said: "Dubai Properties' alliance with Standard Chartered, one of the leading mortgage providers, is part of an endeavor to provide our clients with viable loan options."

He further said: "We are focused on leveraging synergies across the real estate sector and aim to continue delivering strong investment values to our customers and give them the confidence and security to invest in the real estate market."

The loan shall be financed up to 40 per cent of the price of the property and the final payment can range from Dh150, 000 ($40,800) to Dh10 million ($2.72 million); where as the term of the loan repayment can range from 3 to 25 years.

The loan shall also cover the land registration charges.

"The new Easy Loan mortgage product is an important addition to Standard," said Chris de Bruin, head of consumer banking, Standard Chartered UAE.