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Banks propose 60% loan-to-value limit
- United Arab Emirates: Thursday, January 10 - 2013 at 02:05
Banks in the UAE are expected to submit their proposals to the central bank today regarding the recent controversial regulation on mortgage financing, Khaleej Times has reported, citing a banking source. "The senior bankers have finalised the proposals during their second meeting on Tuesday that suggested at least 60% cap for expatriates on certain conditions and maximum 80% limit for Emiratis," said the source. They are also looking for some clarifications on new regulations and most importantly want delay in the rules, so they can make policies according to the guidelines provided by the central bank, the source added.
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