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1 - Eligibility Criteria


Loans refinanced by EMRC must meet the following eligibility criteria:

1.     Fully disbursed loans as per FRA and law 148 approved products.

2.     EMRC will accept first liens ONLY as required by the Executive regulations of Law 148 of 2001 i.e. registered mortgages or mortgages eligible for registration;

3.     The mortgage loan should at the time of refinance have an average remaining maturity which expires on or after the maturity of the Refinance loan;

4.     The mortgage loan has not been in default within the most recent 6-month period, and no payment is overdue by more than 90 days ;

5.     Maximum loan to value (value being the lower of property price or appraised value) according to product ranging between 70% and 85%;

6.     In the case of mortgage collateral, does not secure indebtedness on which any director, officer, employee, of EMRC is personally liable;

7.     The value per loan does not exceed EGP 5 million with the total value of loans between EGP 2 million to EGP 5 million not to exceed 30% of the pledged portfolio; & According to Product type.

8.     To the best knowledge of the Primary Mortgage Lender (PML) no bankruptcy proceedings have commenced against the borrower.

To the best knowledge of the PML the borrower is not deceased;

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