Abu Dhabi Finance Lowers Mortgage Rates

Published: 10/03/2010

Abu Dhabi Finance Chairman Ali Eid al Mehairi has said that the company has been given financial help by the Department of Finance which is geared towards lowering its mortgage rates to the lowest in the country. Abu Dhabi Finance – a part-government-owned mortgage provider – having acquired the sum of money, will be able to reduce a buyer’s borrowing cost to as little as 5.75%, a rate that is even below the lowest rate in the market today – 6.5%. ADF Chairman also said that the firm is keen to expand into other areas of finance, for example lending to property developers.