It's a finance product provided from Bidaya, which enables the customer to own the property ( the house) by agreement and contract between the client and the financing party, where financier buys the property and owns it and then rents to the client for a specific period of time against monthly installments. With a promise to transfer ownership of the property or home to the customer after payment of the last installment.
Price declaration examples and calculator results are used for demonstration purposes. Prices may vary for some customers depending on related factors such as credit record etc.
- The maximum finance amount for first home buyers is 90% of the property’s value.
- For second home buyers and above, the maximum finance amount is 85% of the property’s value.
- For DPG beneficiaries, the maximum finance amount is equivalent of 95% of the property’s value.
- In the case of (Early Settlement), the total early settlement amount reflects the profits of the first 3 months after the end of the second year based on the contract’s start date (months 25,26,27).
- Prices are reviewed on a monthly bases (last update was on September 16,2020).
- The Installment/Rental Installment consists of (Principle + Profit).