Abu Dhabi Finance cuts mortgage rates
Complex Made Simple

Abu Dhabi Finance cuts mortgage rates

Abu Dhabi Finance cuts mortgage rates

Ali Eid al Mehairi, chairman of Abu Dhabi Finance, a mortgage provider part-owned by the government, has said the firm has received financial support from the Department of Finance aimed at reducing its rates to the lowest in the country, The National has reported. The unspecified amount, which was obtained at 'commercial terms', will enable ADF to lower the cost of borrowing for home buyers to as low as 5.75%, compared to the lowest rate in the market today of 6.5%. ADF is considering future expansions into other types of finance, such as lending to property developers, he said.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved