Saudi REDF said to launch mortgage guarantee scheme in two months

16/10/2017 Argaam

 

The Saudi Real Estate Development Fund (REDF) will launch its mortgage guarantee program within the next two months, Al-Eqtisadiah newspaper reported on Monday, citing unnamed sources with knowledge of the matter.

 

The new scheme will cover default risks for beneficiaries registered in the fund as well as other applicants registered in the housing ministry.

 

Earlier this month, REDF approved launching a mortgage guarantee program, tailored to serve a large number of applicants on the waiting list.

 

Home loans will be provided to applicants through commercial banks and home financiers which will cover funding risks.

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