The UAE government has officially raised the age limit for housing loans to 95 years old, marking a significant policy shift aimed at supporting senior citizens in purchasing homes.
Key Features of the New Housing Loan Policy
- Extended Age Limit: Allows individuals up to 95 years to apply for housing loans, a notable increase from the previous limit.
- Life Insurance Coverage: Introduces special life insurance that covers both existing and future housing loans at an affordable cost.
- Protection for Families: The life insurance safeguards loan families against unforeseen events, providing financial security.
Objectives and Benefits
- Increase the stability of Emirati families by enabling older citizens to access housing loans safely.
- Support the growing aging population to own homes with confidence.
- Enhance the reliability of the housing loan system through insurance-backed security.
- Encourage more people to invest in property irrespective of their age.
This policy revision represents a major step towards inclusive development across all age groups in the UAE, aiming to empower seniors and strengthen family stability through homeownership.
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