Caetano Fernandes, Senior Vice President & Head of Mashreq Gold
Mashreq, one of the UAE’s leading financial institutions has announced the launch of Home Equity Release solution, which enables clients to use the additional value in their home to generate cash flows, which can be used for further investments to generate wealth.
Home equity loans allow borrowers to use the equity in their home as collateral. This means that if a customer has a property which is fully paid up and not mortgaged, they can take advantage of the value in their home and cash out part of that value which can be further invested in real estate, the stock market or to finance a business venture. The Home Equity Release mortgage solution benefits clients by helping them manage their cash flow and any major expenses.
Commenting on this innovative solution, Caetano Fernandes, Senior Vice President & Head of Mashreq Gold commented, “Equity release loans are not new in most developed markets. However, our Home Equity Release mortgage solution is offered to clients on attractive terms, with low interest rates starting from 4.49%, longer tenors of up to 25 years, a choice of Islamic and Conventional Home Finance, and for a wider range of properties. The process requires simple documentation resulting in faster turnaround times on home loan approvals. By offering this solution we can help clients preserve and grow their wealth, by managing it in an efficient manner. The Home Equity mortgage solution caters to high networth, salaried and self-employed clients who have a minimum monthly income of AED 25,000.”
Pawan Dhawan, Vice President Mashreq Mortgages commented, “The Real Estate sector is upbeat, it has witnessed a double digit growth in property price appreciation, the rental yields are also very attractive. Small and Medium Enterprise (SME) owners and High Net Worth Individuals (HNI) can now take advantage of the capital appreciation in the properties they own and invest these funds further to grow and diversify their portfolio in different asset classes. Such funds can be used by self-employed clients to manage and optimize cash flows for capacity expansions and other business related expenses. Whereas salaried clients can utilize such funds to invest it further in real estate, stock market or fund any short term family expense like education, marriage, etc”.
Mashreq continues to present its customers with such value added services that are delivered with an exceptional customer experience.