Real Heights Real Estate Broker

Source: Gowealthy

 

Barclays, UK-based banking institution, is planning to re-implement its lending strategy in a sign that the liquidity problems are improving. This is good news for UAE property market as the bank confirmed that it would start to lend more aggressively.

According to the bank, Barclays is closely evaluating the property market. It will be more actively engaged in mortgage lending in near future. The bank have never pulled out of the market and in the recent past remained cautious in the best interest of consumers.

A regional liquidity crunch in the last 6 months has seen many banks slash their loan to value ratios, making it harder for investors to get a mortgage. Lack of availability of mortgages has also contributed to falling property prices in the UAE. Currently, Barclays is lending 60 per cent on villas and apartments in the UAE and is not financing off-plan properties.