US EditionNawy Secures $23m Debt Financing From Leading Egyptian Institutions to Expand Mortgage Offering - Dailynewsegypt
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8 Articles
The government is proposing easing the rules for amortization and mortgage limits to make it easier for young people to enter the mortgage market. Among other things, it is proposed to remove the stricter amortization requirement.
The government wants to lower the requirement for the amount of cash needed for a mortgage and eliminate the extra amortization requirement. Private economists from several different banks give the thumbs up but at the same time raise a warning finger for new borrowers.
Financial Markets Minister Niklas Wykman proposes easing the amortization requirements for mortgages. The stricter amortization requirement will be abolished, according to the proposal. – There will only be rules if you have 50 percent debt, says Wykman.
The government wants to raise the mortgage ceiling from 85 to 90 percent and abolish the stricter amortization requirement that was introduced in 2018. This was announced during a press conference on Tuesday.
On Tuesday, the government is proposing several changes to amortization requirements and mortgage ceilings. Among other things, the government wants to scrap the extended amortization requirement that was introduced
Nawy secures $23m debt financing from leading Egyptian institutions to expand mortgage offering - Dailynewsegypt
Nawy, Africa’s largest proptech platform, has secured $23m in debt financing from ten of Egypt’s top financial institutions. The funding will be used to scale Nawy Now, the company’s FRA-licensed mortgage product offering flexible payment plans and fast approvals for ready-to-move homes—helping more buyers move in now and pay later. The financing will enable Nawy […]
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