Home Loan for Leasehold Properties
Lease Hold Housing Loan is a product available to Qataris and Expatriates who are seeking to finance purchasing a house in areas designated by the Government as Category 18 wherein a customer is provided a leasehold contract renewable within a ninety-nine (99) year period and avail a certificate of Usufruct.
Features & Benefits
- Available for Qatari and Expatriate
- Competitive interest rates
- Flexible monthly repayments
- Plans for self-employed customers
- Life guard insurance on reducing balance- Monthly
- Property insurance on valuation price ( Building value) – Yearly
The leasehold properties allowed the customers to utilize a residential unit for 99 years with renewable contracts. The apartment can be repossessed by other parties depending on the outstanding contract tenure. Lease hold properties should be located within one of the following below investment areas:
| No. | Area Name | Area No. |
|---|---|---|
| 1 | Musheireb | 13 |
| 2 | Ferij Abdel Aziz | 14 |
| 3 | New Doha | 15 |
| 4 | Al Ghanem Al Ateeq | 16 |
| 5 | Al Refa’ + Al Hatmi Al Ateeq | 17 |
| 6 | Al Salata | 18 |
| 7 | Bin Mahmoud | 22 |
| 8 | Bin Mahmoud | 23 |
| 9 | Rawdat Al Khail | 24 |
| 10 | Al Mansoora + Bin Derham | 25 |
| 11 | Najma | 26 |
| 12 | Um Ghouweilina | 27 |
| 13 | Al Khuleifat | 28 |
| 14 | Al Sad | 38 |
| 15 | Al Murqab Al Jadeed & Al Nasar | 39 |
| 16 | Doha International Airport | 48 |
| 17 | Al Qassar, Al Dafna, Anbara | 60, 61, 63 |
| 18 | Lusauil ,Al Kharayej , Jabal Al Thaalab (Fox Hills) | 69, 70 |
Eligibility Criteria
| Eligibility Criteria | Qataris | Expats |
|---|---|---|
| Maximum Loan Amount – QAR | 5,000,000 | 4,000,000 |
| Maximum Loan Tenure – Years | 30 | 25 |
| Maximum Age at Maturity – Years | 75 | 65 |
| Maximum Finance Amount (from the forces sales value ) |
80% | 75% |
| Maximum DSR ( Debt Service Ratio) | 75% from ( Basic + Social allowance ) | 50% from total gross salary |
Documents required for salaried customers
- Salary certificate addressed to Doha Bank
- Passport copy for expatriates
- 6 months bank statement if salary is being transferred from another bank
- Liability letter addressed to Doha Bank if loan is being transferred from another bank
- Copy of title deed , map
- Security cheques (for expatriates)
- Copy of ID
- Developer’s quotation
- Signed and completed application form
- Down payment receipt
- Preliminary agreement between seller & buyer for resale cases
Documents required for self-employed customers
- Copy of ID, passport copy for expatriates
- Audited financial statement for last 2 years
- Liability letter addressed to Doha Bank if loan is being transferred from another bank
- Copy of commercial registration
- Down payment receipt
- 12 months business statement if account is held by another bank
- 6 months personal bank statement if account with another bank
- Signed and completed application form
- Preliminary agreement between seller & buyer for resale cases
- Security cheques (for expatriates)
Interest Calculation (APR):
- Commencing from the Loan Date, interest shall accrue on the Loan on a daily basis at the relevant Interest Rate and will be capitalized to the Loan Amount at the end of each month.
- Interest will be calculated as per following formulae. The Daily Balance of the Loan X Total Annual Rate X (1/360)
- Every payment made after the due date will result in additional interest accrual on loan
- Where a Grace Period applies or where the Customer is granted a postponement in respect of an installment, interest on the relevant Loan shall continue to accrue and will be capitalized to the Loan Amount at the end of each relevant month.
