House Buying in Egypt: Mortgages, Deposits, and Debts
Mortgages for Foreign Nationals
- Local banks and other lenders in Egypt do issue mortgages to foreign nationals, but the process can be more difficult than for locals and may require more documentation.
- Local lenders that provide mortgages in Egypt include:
- National Bank of Egypt
- Banque Misr
- Housing and Development Bank
- Commercial International Bank
- United Bank of Egypt
- Websites of these banks can be found easily by searching the bank’s name on google.
- The deposit required when buying a property in Egypt can vary depending on the lender and the type of property. However, it is common for buyers to put down a deposit of 10-20% of the property’s value.
- New property owners are not responsible for outstanding debts on the property in Egypt. However, it is important to do a thorough title search to ensure there are no outstanding debts or liens on the property before making an offer.
It’s always recommended to seek legal advice when buying a property in any foreign country.