Maskan Mortgages to Continue

Bank Maskan is determined to continue doling out mortgage loans as part of the Housing Savings Account scheme, the head of Bank Maskan’s public relations office announced.”Housing Savings Account is a promising account. Bank Maskan is committed to granting depositors home loans unfailingly,” Masoud Izadi was also quoted as saying by Tasnim News Agency .Housing Savings Account, launched in June 2015 for the first time, aims to provide first- time homebuyers with loans at an interest rate of 14%, which was later reduced to 9.5% in February 2017. The scheme requires applicants to make an initial deposit and wait for a year to become eligible for the loan. Izadi noted that a bank’s client, who has opened a housing savings account, will first select a home after the one-year waiting period at one of Bank Maskan’s branches and file their information.”The bank will give a loan after reviewing the flagged house,” he added.