Mortgage cheaper in UAE

HSBC International Bank lowered mortgage rates in the UAE followed by other banks in the region, according to news Middle East edition of The National. HSBC has lowered rates to 5.49% on traditional and "Islamic" mortgages for new customers who are ready to open a deposit of 40% of the price of the transaction. "The cost of the mortgage is reduced as to stabilize property prices. Risk profile of the customer in this area is getting better, and accordingly the bank assigns rates ", - commented the representative of HSBC. Today HSBC rate - the lowest in the traditional mortgage in the country, but the bank to the size of down payment requirements of the most stringent. Earlier this year, the weakening of mortgage lending in the United Arab Emirates announced the other major players - banks are Abu Dhabi Finance and Tamweel. According to The National .