byblosbank.com Government Housing Loan Lebanon : Byblos Bank
Name of the Organization : Byblos Bank
Type of Facility : Government Housing Loan
Country : Lebanon
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Website : https://www.byblosbank.com/personal-banking-lebanon
Government Housing Loan :
Byblos Bank is proud to take part in this public/private partnership designed to help Lebanese of modest means to acquire a home to serve as their principal residence.
Related : Byblos Bank Lebanon University Educational Loan : www.statusin.org/5843.html
Purpose:
To finance the purchase or construction of a principal residence
Eligibility:
** Lebanese citizen, resident in Lebanon for at least 10 years, with net monthly family income not to exceed LBP 6,750,000
** Maximum age not to exceed 67 by the end of the loan period
** A minimum of two years of working experience in the same field
** Minimum net monthly income of LBP 750,000
** Monthly payments should not exceed one-third of salary/income
Amount:
Maximum LBP 270 million
Currency:
LBP
Interest Rate:
Regressive interest rate based on 20% of two-year Lebanese Government Treasury (current loan rate 4.67% as of May 18th 2012); reviewed annually
Repayment Period:
Up to 30 years: during first half of the loan period, repayment of principal only to Bank; subsequent remaining half of loan period, repayment of interest to Public Housing Corporation
Distinctive Features:
** No down-payment is required for finished apartments
** 70% financing for homes in which the buyer is already a tenant
** 70% financing (land plus construction) for construction of a home
** 100% financing of the renovation cost (not exceeding 50% of the home’s value after renovation)
** In all cases 10% is deducted from loan amount and deposited in Public Housing Corporation account for the benefit of client
** Free registration, mortgage, and stamp fees on loan contracts
** A detailed checklist that helps protect you against common pitfalls such as buying non-registered real estate and paying an inflated purchase price
** Special Byblos Bank free file fees commission of 0.5% of loan amount
** Application can be made singly or as a couple
** Decisions on applications communicated with minimum delay
Conditions*:
** Total surface area (living section) should not exceed 200 square meters
** First mortgage on the home
** Life insurance for the applicant
** Fire insurance on the home
* The Bank reserves itself the right to request any additional guarantees when necessary.
About Us :
Byblos Bank is Your Bank For Life because we truly care about what matters most to you and want to empower you so you can better manage your finances. As a full-service financial institution, we offer you world-class support, provide our employees with fulfilling careers, and empower communities with economic benefits.
FAQs :
What does ‘Default Card’ mean?
Your Default Card is the card ByblosPay automatically uses when you make a payment unless you select another card by swiping left or right from the main page. Initially the first card you add to ByblosPay will be the Default Card, but you can change this at any time in the side menu.
How can I manage my cards?
From the side menu, you can view and manage all the cards you have added to ByblosPay. Here you can name and rename your card(s), change your Default Card, delete your card(s) from the App, or add a new card.
What do I do if my phone is lost or stolen?
Call +961 1 20 50 50 to deactivate any card or cards you have added to the ByblosPay App. You will still be able to use your physical card(s) to make normal payments.
Will my statement show payments made using ByblosPay?
Yes. All payments will appear on your card statement like any other transaction made on the same Visa Credit Card.
Can I use ByblosPay abroad?
Yes. You can use ByblosPay wherever you see the contactless symbol ().
If I get too close to a contactless terminal, is there any risk of my card getting accidentally charged for someone else’s purchases?
No. We have designed ByblosPay to ensure that the cardholder is always in control. A terminal is only enabled to receive a payment from you after you click on “Pay now”, and your phone must be held right in front of the card reader for a few seconds in order for the payment to be processed.