KUWAIT: Nomo Bank, the digital arm of the Bank of London and the Middle East “BLME”, a subsidiary of Boubyan Bank Group, announced its new competitive finance rates for GCC customers. This comes in an attempt to meet their aspirations in the UK residential properties market or for investing in leasehold properties in the United Kingdom, in addition to offering the possibility of refinancing their existing properties at competitive rates and flexible conditions.

These financing solutions stand out as they are fully digital and Sharia-compliant, thus giving customers the opportunity to avail property financing with rates starting from 4.99 percent to 5.49 percent for residential and investment properties, with refinancing rates starting from 4.99 percent to 5.25 percent.

Flexible banking experience that meets customers’ expectations

On this occasion, Sarah Al-Mutawaah, Nomo Bank’s Executive Manager, said: “With the increased interest in property investment in the United Kingdom, Nomo Bank continues to offer innovative financing solutions that keep up with its GCC customers’ needs. The new rates offer a great opportunity for purchasing or refinancing properties starting from £100,000 and up to £2.5 million in value, with flexibility in selecting from finance solutions that suit various customers’ needs, whether for residential or investment purposes.”

She added: “Nomo’s property finance stands out with payment tenors starting from 5 years and up to 30 years, with financing up to 75 percent of the property’s value, making it easier for customers to own their property.” Al- Mutawaah elaborated: “GCC residents have a clear interest in the UK real estate market, whether for personal residential or investment purposes, or for their children who study over there. With the continued demand growth in this sector, Nomo’s property finance solutions cater for the needs of this growing segment of customers in the Middle East, who have international banking needs.”

“Amid the ongoing economic challenges, investors are looking for investment instruments that strike the needed balance between revenues and stability. Hence, we offer Sharia-compliant property finance solutions that combine good financial performance with well-studied diversification opportunities in a reliable investment environment.”, she pointed out.

Al-Mutawaah reiterated: “Nomo Bank offers a fully-digital experience where customers can complete all property finance procedures easily through the App. This makes our procedures faster and more efficient. Ever since the start of Nomo, we have seen accelerated growth in the number of customers owing to Nomo’s innovative digital services that cater for their banking needs. Moreover, the bank allows customers to manage their savings and investments conveniently and securely while employing cutting-edge Sharia-compliant digital solutions.”