Banking Giant HSBC Moves to Increase UAE Mortgage Deals

Bank announces a tie-up with real estate brokers to widen the availability of mortgages.

Global banking giant HSBC said on Wednesday it was expanding its mortgage business in the UAE by making deals available through real estate brokers.

HSBC said it is increasing opportunities for customers to access competitive mortgage deals in Dubai by widening the availability of its mortgages through three brokers.

The three brokers are Allsopp & Allsopp Mortgage Services, Home Matters and Lion Mortgage.

Kunal Malani, regional head of Customer Value Management, Retail Banking, and Wealth Management, MENA and turkey, HSBC, said: “We know the importance of providing choice and convenience to our customers; this is especially true when it comes to getting a mortgage. By partnering with these established brokers, we are able to provide more people with access to our mortgages, to purchase their first property or move up the housing ladder.”

HSBC's entry into the broker market is part of its growth strategy to expand the mortgage portfolio and provide multiple access points for customers.

Dedicated HSBC mortgage advisors have been assigned to the brokers to help them fulfill customers’ requirements effectively and swiftly.

For approved UAE properties, HSBC said it offers interest rates starting from 3.24 percent with the finance of up to 80 percent of the property value for UAE nationals, and 75 percent for expats.