Bedaya launches Egypt’s first non-bank mortgage app

The app allows users to apply for several mortgage finance offerings

Image used for illustrative purpose.

Image used for illustrative purpose.

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Cairo -  Bedaya Mortgage Finance Co., a joint venture (JV) between Talaat Moustafa Group Holding, GB Capital, and EFG Hermes, has launched the first non-bank mortgage finance mobile application and online platform in Egypt.

The app allows users to apply for several mortgage finance offerings, calculate the expected cost of their mortgage, upload documents, and pay fees, according to a statement on Sunday.

Bedaya's CEO and Managing Director, Tarek Abou Gendia, said, "Our ultimate goal with this launch is to expand accessibility to mortgage financing, which is often a long and cumbersome process. This key access to financing is also expected to see the secondary market pick as it is currently a buyer’s market and will likely remain to be for the foreseeable future."

Source: Mubasher

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