Credit Lending

Qatari nationals

Qatari nationals can own property on a freehold basis anywhere in Qatar. Cb offers the following basic terms to mortgage loan applicants:

• Up to 25 years to repay (Up to 15 years for equity release loans)
• Mortgage term up to the age of 70 years
• Interest rate from 5.99%  
• Mortgage loans up to 85% financing
   

GCC Nationals & Resident Expatriates

GCC nationals may buy residential real estate anywhere in Qatar but they are not permitted to sell it in the first 4 years after purchase.  They cannot take out a mortgage loan on the property unless it is in one of the areas designated for foreign investment i.e. the 18 leasehold areas or the 3 freehold areas. 
Resident expatriates of all nationalities are entitled to buy freehold or leasehold property in the designated areas.  Cb offers the following basic terms to GCC Nationals & Resident Expatriates mortgage loan applicants:

• Mortgage loan up to 80% financing
• Up to 20 years to repay
• Mortgage term to the age of 60 years
• Interest rate from 7.25%

Non-residents

Non-residents may own freehold and leasehold property in Qatar in the designated areas.  Cb is currently the only bank in Qatar offering mortgage finance to non-residents.  Cb offers the following basic terms to mortgage loan applicants:

• Mortgage loan up to 50% financing
• Up to 10 years to repay
• Interest rate 9.75% variable
• Mortgage term to the age of 60 years
• Immediate commencement of Capital & Interest payments

Valuation

All banks require the minimum of a mortgage valuation to be carried out as part of the approval process for agreeing to release mortgage funds for the purchase of real estate. Commercialbank instructs the valuation once your mortgage application has been approved by its credit department. Mortgage valuations are required for all types of real estate including bare land, property under construction, readymade and re-financing. The valuation confirms to the Bank that the property will act as suitable security for its mortgage. The cost varies according to the value of the property being mortgaged:

QR1m - QR2m QR 2,500
QR2m – QR5m QR 3,000
QR5m – QR10m QR 4,000
Above QR 10m Price on application

It is important to note that the Bank lends against the purchase price or the stated value, whichever is the lower of the two figures.

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