Dubai real estate startup Huspy has revealed new mortgages in the UAE with rates under 4 percent, making it lower than the current Emirates Interbank Offered Rate (EIBOR) benchmark.
The company said its lowest rate of 3.85 percent is available over a fixed 3-year term exclusively during Ramadan.
Rates of 3.94 percent and 3.99 percent are offered for 2- and 3-year fixed periods, respectively.
Home buyers need only apply through Huspy’s platform and submit documents for a free cost analysis.
Brokers can access the deals for clients through Huspy’s “Brokers Portal”, reducing application times, and customers will receive benefits from partner banks including 0 percent processing and valuation fees.
Some may also qualify for a 50 percent cashback on their first month’s salary with certain banks. Early repayment of mortgages are allowed without penalties in another incentive. Existing homeowners can also refinance at competitive variable rates.
The startup works closely with major UAE lenders, using technology platforms to digitise mortgages across the nation.
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