Get ready to start apologizing for all the noise you will be making soon. BLF is offering you the facilities to renovate your house in Lebanon.
With the help of the Banque Libano-Française Renovation Housing Loan, specially designed to finance your expenses, you can redesign an old property, redecorate a new villa with new painting and floor covering, replace old tiles, fix the roof, or even change the whole plumbing system.
You might have found the house of your dreams, but now you can easily redesign it and make it a home.
- financing the conversion labor and renovation cost of your house, villa or chalet,
- currency: USD,
- loan amount: from USD 10,000 up to 100% of the residence conversion and renovation costs, not exceeding 50% of the current property value (house) with a maximum of USD 400/m²),
- preferential interest rates: variable and based on the Cost of Funds Index* for the whole period of the loan,
- loan period: minimum 2 years | maximum 10 years,
- file fees: 1% of the loan amount (maximum USD 750),
- expert fees: USD 150 for the first evaluation, USD 100 for each additional evaluation (if required),
- no commission applicable,
- no grace period,
- stamp fees: 1.5‰ of the gross loan amount + LBP 10,000 per contractual year,
- guarantees: first or second degree mortgage on the property subject of the loan, life and fire insurances.
*Reviewed annually, as per the average cost of funds of the Bank
Loan additional advantages
- no down payment required,
- competitive interest rate.
For a 36-year-old individual renovating his residence for USD 30,000, the Loan* is reimbursed over a 3-year period through equal monthly installments of USD 980 at an Annual Percentage Rate (APR) of 12.22% (including interest, life and fire insurance premiums, file fees, expert fees, mortgage and mortgage release fees), the latter being variable and reviewable.
Conditions apply as at 11/12/2018 and are subject to variation.
* Subject to pre-study and approval of the application
Applicant's eligibility criteria
- nationality: Lebanese,
- age: 21 - 64 (at loan submission),
- occupation: the applicant should be:
- an employee with a steady job and income for more than 18 months,
- a self-employed with a minimum 3-year work experience in the same field.
- minimum required monthly income:
- LBP 1,200,000 or the counter value for employees,
- LBP 2,500,000 or the counter value for self-employed.
- monthly payments: maximum 33% of the monthly income for employees and self-employed.
Every credit facility is an engagement and must be reimbursed. Check your repayment capacities before you apply.
To submit your loan application, learn more about our loan eligibility requirements and requested documents, visit the nearest BLF branch where our customer advisors will be pleased to share with you a customized simulation, including your Annual Percentage Rate - APR based on your profile and selected financing terms.