Banks unfreeze mortgages as sentiment improves

Almost three quarters of a year after real estate prices started their southbound journey banks are restarting mortgage lending.

HSBC is bullish on the sector's prospects, and has hiked its loan-to value (LTV) ratios to 75 per cent on its flexi-loan and Eibor-based mortgage products, as well as on its Amanah Home Finance.

"HSBC is primarily targeting end-users who have recently faced acute difficulties getting affordable mortgage finance," said Abdulfattah Sharaf, CEO of Personal Financial Services, HSBC Middle East and North Africa. "The relaxed LTVs will provide flexibility and choice to customers looking to own a home," he said.