RAKBank launches new mortgage offer

Ras Al Khaimah, October 2, 2011

RAKBank, also known as the National Bank of Ras Al-Khaimah, has launched a new mortgage offer that provides property buyers with added flexibility as well as interest rates from as little as 5.5 per cent.

Available for a limited period, the new mortgage offer is open for UAE nationals, resident and non-resident expatriates.

It extends up to 80 per cent finance of the market value of the property to all buyers seeking select properties from leading Abu Dhabi and Dubai developers. RAKBank will also finance the purchase of certain private properties registered with Dubai Land Department.

“As the real estate market is stabilizing, more and more people are taking a long-term view by looking at homeownership in the UAE,” said Graham Honeybill, RAKBank chief executive officer.

“Staying true to the Bank’s customer centric approach, RAKBank has launched a mortgage offer with a simple and affordable solution for home finance to cater to the growing number of potential property buyers in the country.”

Potential buyers applying for the mortgage loan have the option of applying for a two- year fixed interest rate, which will ensure their monthly repayment remains unchanged during this period, or they could avail of the Bank’s competitive variable interest rate.

They can also take advantage of the Bank’s personal and dedicated award-winning customer service, flexible repayment periods and fast and easy approval process. – TradeArabia News Service

Tags: Ras Al Khaimah | interest | RAKBank | Mortgage rates |