Business | Property
Mizin partners with RAKBank to provide special mortgage services
Mizin, the real-estate development arm of Tatweer, announced an alliance with RAKBank to provide an exclusive mortgage deal on Mizin's REMRAAM community.
- Staff Report
- Published: 16:17 December 28, 2008
Dubai: Mizin, the real-estate development arm of Tatweer, announced an alliance with RAKBank to provide an exclusive mortgage deal on Mizin's REMRAAM community.
“Mizin and RAKBank are committed to providing customers with quality products and outstanding service,'' the companies said in a joint statement on Sunday. “Both organisations have collaborated to support consumers who are currently facing financial challenges to prioritize their cash outlays by converting them to feasible, sustainable mortgage payments.''
RAKBank's specially structured mortgage offering will settle all outstanding installments of the original price on the REMRAAM development and enable home buyers to settle payments over a period of up to 25 years.
The offer covers Mizin's select customers who meet the bank's mortgage requirements. In addition, RAKBank will be offering qualified REMRAAM customers the option of partial settlement up to 20 per cent annually free of charge and only a 1 per cent charge on the outstanding loan amount in the case of a buyout before or after completion of the development.
In order to provide customers with a fast and efficient service on this offer, Mizin are hosting a dedicated Mortgage desk for RAKBank at their headquarters in Dubai Healthcare City.
The desk comprises of a team of RAKBank's specialist mortgage advisors who are providing dedicated and personalised service with guidance on the entire process. In addition, Mizin has a dedicated team within their Customer Relations Centre to handle requests and enquiries specifically related to this mortgage offer.
“Mizin's alliance with RAKBANK will differentiate both organizations as pillars of strength within the real estate and financial sectors. More importantly, the alliance will contribute to the strengthening of the real estate sector by building end-user's confidence in purchasing and retaining property based investments. This is part of Mizin's drive towards creating a sustainable, long term real estate market,'' said Ahmad Sharaf, CEO, Tatweer Investments
“As the UAE's leading bank in service quality, our focus is on providing services and facilities that are best suited to our customer needs. The new mortgage facility offered to Mizin customers is another way of easing the process of owning a home in the UAE by making it much more convenient and manageable,'' said Graham Honeybill, General Manager, RAKBank.
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