Saudi central bank lifts loan-to-value rate for 1st-time-buyer mortgages

12 Jan

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. 

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