Real estate lease ending with ownership

Advantages:

• Option to secure financing for residential/vacation properties

• Financing can cover up to 80% of the property's value

• The repayment period extends up to 180 months

• Competitive variable interest rates

Lowest financing administrative expenses.

• Complimentary life and disability insurance

• Possibility of granting financing to the husband and (if the wife is employed)

• Waived account opening fees, stamp duty, and credit inquiry fees for customers

• Ability to monitor accounts through the BM Online Banking app

Target demographics for funding:

• Government, public sector, public business sector, or private sector employees

• Professionals (e.g., doctors, engineers)

• Owners of commercial, industrial, or service-oriented businesses

• Retirees

The minimum age requirement for all programs is 21 years, except for self-employed individuals, who must be at least 25 years old

Types of eligible properties:

• Properties listed in the seller's name or constructed on registered lands

• Properties owned by municipal bodies and sold directly by the New Urban Communities Authority

• Resale properties, including Dar Misr, Sakan, city government units, etc.

• Units affiliated with a developer, housing association, or one of the legal entities, on condition that the owner approves the implementation of a sales ban.

Required documents for the unit

1. For units registered in the real estate register:

- The seller's title deed is the registered contract for the residential unit or the land where the unit is located.

- The building license for the property.

2. For units allocated to the seller from the New Urban Communities Authority (Resale reallocation):

- The initial contract between the seller and the city's government office.

- A receipt report is prepared after the seller and the buyer sign the real estate financing agreement but before the seller hands over the price check.

- A certificate from the Housing and Development Bank confirming that the total price of the housing unit has been paid.

3. For units allocated to the seller from the New Urban Communities Authority:

- An allocation notification issued by the relevant city's government office.

- A record of receipt for the housing unit.

- A certificate indicating the unit's financial and real estate status to be financed.

4. For residential units within a compound or belonging to a developer or association but not registered in the real estate register:

- The seller's title deed, which is the contract for the unit.

- A certificate from the company stating the chain of ownership, confirming that the seller is the rightful owner and possessor of the unit according to their records.

- Utility receipts (electricity/water/gas) for the past three months.

- A statement of no objection issued by the company, allowing the seller's transfer to the investor and prohibiting any further transfer of the residential unit according to the company's records.

The application should be submitted, and the documents should be completed as per the request from the Legal Affairs department after review.

Documents required from the client