DUBAI: Saudi Arabia's central bank lifted the maximum
loan-to-value rate on Thursday for mortgages for first-time homebuyers to 90
percent from 85 percent in an effort to stimulate mortgage lending.
"Raising the maximum limit of the percentage of financing of the value of the first house for citizens will contribute to supporting the growth of the real estate financing sector," the Saudi Arabian Monetary Authority (SAMA) said in a statement on its website. Read More...