The recent change in the law allowing Non Bahrainis to own freehold
    properties in areas of Bahrain has meant that some of the banks based on the
    Island have introduced Mortgage facilities to Expatriates. The terms are
    based on the properties value, your income, and your age.

    We have organised the following Mortgage facilities, for both expatriates and
    locals, with one of the leading worldwide banks based in Bahrain. The bank
    will loan up to 80% of the properties value.Other mortgage products are also
    available. If you are interested or would like more information please contact
    us so that we can put you in touch with the correct people. The following
    particulars are correct as of Nov 2006,  please be aware that they are subject
    to change.

    Mortgage Loan Facilities

    Finance for the purchase of a new house for owner occupation
    Finance for house under construction with disbursal in stages
    Finance for refurbishment / renovation of existing house
    Takeover of existing mortgage loan from other banks
    Finance against your existing house

    Minimum Loan Amount                        BHD 25,000/-
    Maximum Loan Amount                       BHD 400,000/-
    Maximum Loan to Value Ratio (LTV)        80%

    Maximum Tenure        25 years- Salaried Bahrainis
                                                             20 years-GCC Nationals/Expatriates/Self
    Employed businessman

    Maximum Age        60 Years- Salaried Bahraini
                                                      65 years- Self Employed Businessman
                                                       55 years- Expatriates

    Eligibility                Bahraini / GCC Nationals / Expatriates
    (Residing and Employed in Bahrain)

    Joint Borrowers        Joint borrowers can be family members with a
    minimum income of BD250 each

    Minimum Monthly Net Income    BHD 500- Bahrainis
    BHD 700- GCC Nationals &  Expatriates

    Minimum period of Employment      2 years of total work experience / 2
    years in current business

    Maximum Debt Service Ratio (% of net income that can be paid as a
    mortgage loan EMI)               60%

    Administrative Fees (to be paid post-approval and prior to loan
    disbursal)                            1 % of the Loan Amount

    Early Settlement Fees              1 % of the Principal Outstanding

    Interest Rate (Interest charged on Monthly Reducing Balance
    method)                             Interest rate 9% p.a.

    Life Insurance Cover             Mandatory

    Fire Insurance Policy for Residential Villas after Construction                       
    Mandatory

    First Installment Due Date        30 days after 1st draw down

    Loan In-Principal Approval        3 working days

    Salaried

    Initial Documentation Requirements  
    Latest Salary Slips       
    Latest 3 months salary crediting bank statements      
    Length of Service Letter from HR
    Copy of CPR & Passport

    Self Employed

    Copy of C.R.
    Latest 6 months business account bank statements
    Copy of CPR & Passport
BAHRAIN MORTGAGE INFORMATION