Dubai, UAE - HSBC in the UAE is increasing opportunities for customers to access competitive mortgage deals in Dubai by widening the availability of its mortgages through three brokers.

The three brokers are Allsopp & Allsopp Mortgage Services, Home Matters and Lion Mortgage.

Kunal Malani, Regional Head of Customer Value Management, Retail Banking and Wealth Management, MENA and turkey, HSBC: “We know the importance of providing choice and convenience to our customers; this is especially true when it comes to getting a mortgage. By partnering with these established brokers, we are able to provide more people with access to our mortgages, to purchase their first property or move up the housing ladder.”

HSBC's entry into the broker market is part of their growth strategy to expand the mortgage portfolio and provide multiple access points for customers. Dedicated HSBC Mortgage Advisors have been assigned to the brokers to help them fulfil customers’ requirements effectively and swiftly.

For approved UAE properties, HSBC offers low interest rates starting from 3.24% p.a.1 with finance of up to 80% of the property value for UAE nationals, and 75% for expats. Customers can apply for a new home loan or transfer existing mortgages, without salary transfer, and get AED 2,500 cashback2 with every home loan above AED 350K, including complimentary Premier status3 with a dedicated relationship manager. Customers can make partial payments of upto 25% of outstanding loan amount at no charge and there are no early settlement charges after the first 3 years of their loan.

Mr. Malani further added, “Buying a home is one of life’s major long-term ambitions. We recognise that this can be a complex process and have committed to supporting as many customers as possible to buy their own home by offering personalised financial planning services, Approval in Principle in 60 minutes4, online mortgage calculators on the HSBC website and more. The addition of mortgage brokers further enhances our reach, as we know many customers prefer to select their mortgage via brokers.”

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1 Rate is based on reducing balance and applicable to UAE resident Premier Customers, borrowing a loan amount of AED 5 million or more.
2 A minimum Home Loan amount of AED 350,000 and a minimum top up amount of AED 50,000 is required to be eligible for the AED 2,500 cash back offer. Cashback will only be given on successful drawdowns, offer valid till 31st March 2018.

3 Complimentary Premier status awarded for customers obtaining a home loan of AED 3 million or more.

4 Home Loan approval is in principle. It will be provided in 60 minutes after submitting satisfactory documentation to an HSBC Mortgage Advisor during working hours between Sunday to Thursday, 8:00am to 4:00pm

© Press Release 2018