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FINANCE
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Cash Payment Scheme:
- 90% upon contract signature
- 10% upon registration
Al Mawarid Bank Financing Scheme*:
Client profile and requirements:
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Working Experience
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Min.1 year
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Age
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Minimum 21, Maximum 64 at loan maturity
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Down Payment
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Min.25% of plot price (refer to repayment plan)
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Documents required upon loan application:
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ID, Proof of income,CDR, Application
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Fees:
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File Fees
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0.25% of the loan amount, Max $1000
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Insurance policies:
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Life Insurance
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Upon loan approval
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Fire Insurance
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Upon apartment delivery to the customer
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Loan parameters:
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Currency
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LBP
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Loan amount
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75% of plot sale value, maximum LBP 800 million
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Loan Period excluding 1 year grace period
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Max. 20 years
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Interest rate for loans subsidized by Banque Du Liban
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Valiable as per the formula: 40% of 1 year Treasury bills + 3.3%
currently 5.44%
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Interest review
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Yearly at loan anniversary
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Repayment Plan:
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Down payment to be paid by customer directly to the real estate
company
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a/ 8% of plot sale value upon contract signature b/ 12% of plot
sale value to be repaid over 1 year,
equal monthly installments
c/ 5% of plot
sale value upon plot registration in the name of the customer
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Housing loan, 20 years in addition to 1 year grace period
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During grace period interest is paid only. After grace period
principal and interest are to be settled via equal monthly installments
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* The above financing scheme is subject to Al Mawarid Bank’s approval of individual customer’s loan application.
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