Sunday 21, October 2018 by Kudakwashe

Banque Saudi Fransi partners SRC to increase LTFR mortgages

 

The collaboration comes two months after Saudi Real Estate Refinance Company (SRC), created funding for new 15 to 20 year long-term fixed-rate (LTFR) mortgage loans to ‘unlock’ the Saudi real estate market.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">Banque Saudi Fransi (BSF) has signed a MoU with SRC to offer more LTFR mortgages, reported local daily, Saudi Gazette.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">The agreement also covers SRC’s acquisition of part of BSF’s mortgage portfolio which will increase the bank’s liquidity and enable it to offer more home loans.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">Fabrice Susini, CEO of SRC, said that BSF will now be able to help more Saudis gain access to mortgage products that offer stability and security over the term of the loan.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">SRC is enabling financial institutions and banks to increase the number, type and length of LTFR mortgages to provide consumers with a high a high degree of predictability and protection from potential interest rate increases. 

strong style="mso-bidi-font-weight: normal;">Banque Saudi Fransi partners SRC to increase LTFR mortgages

strong style="mso-bidi-font-weight: normal;">Stand firstspan style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">The collaboration comes two months after Saudi Real Estate Refinance Company (SRC), created funding for new 15 to 20 year long-term fixed-rate (LTFR) mortgage loans to ‘unlock’ the Saudi real estate market.

strong style="mso-bidi-font-weight: normal;">Body

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">Banque Saudi Fransi (BSF) has signed a MoU with SRC to offer more LTFR mortgages, reported local daily, Saudi Gazette.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">The agreement also covers SRC’s acquisition of part of BSF’s mortgage portfolio which will increase the bank’s liquidity and enable it to offer more home loans.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">Fabrice Susini, CEO of SRC, said that BSF will now be able to help more Saudis gain access to mortgage products that offer stability and security over the term of the loan.

span style="font-size: 12.0pt; line-height: 107%; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin; mso-bidi-theme-font: major-latin;">SRC is enabling financial institutions and banks to increase the number, type and length of LTFR mortgages to provide consumers with a high a high degree of predictability and protection from potential interest rate increases. 

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