Huspy versus Holo: Mortgage offers under 4% for homebuyers

With the rental property market soaring, the choice between renting and buying a house presents a huge opportunity cost, for those living in the UAE.

Offers from platforms such as Huspy and Holo, are bringing competitive rates that help transition from a tenant to an owner.

Why use mortgage platforms

The mortgage platforms aim to reduce the complexities of financing a real estate purchase along side reducing the processing times.

Driven by technology, these platforms are offering an interface that is secure and transparent, backed by an algorithm offering prospective homeowners complete visibility and access to a full range of unbiased mortgage and refinancing options from multiple lenders in seconds.

Huspy brings under-4% rate to buyers

Huspy, one of the largest mortgage platforms in the UAE, has announced the availability of mortgages under 4 per cent – below the UAE EIBOR rate – for home buyers in the UAE.

The platform which sources deals for buyers said, “these new and reduced mortgage rates are available for homebuyers on Huspy from the UAE’s leading banks.”

Additionally, the company’s lowest offer at 3.85 per cent, only during the holy month of Ramadan, is available over a fixed 3-year term.

Huspy is also offering homebuyers mortgage rates at 3.94 per cent for a fixed 2-year term and 3.99 per cent for a 3-year term.

Additional benefits

Huspy is offering customers benefits such as 0 per cent processing fees and 0 per cent valuation fees.

Furthermore, homebuyers who have a salary transfer with certain banks can receive 50 per cent cashback one month’s earnings, besides other cashback offers.

Huspy said customers who choose to pay off their mortgage sooner will also have access to refunds on early settlement fees.

These deals on mortgages will also be made available for existing homeowners looking to refinance their mortgage at competitive rates.

Huspy sources deals with all of the leading banks in the UAE and empowers mortgage brokers with technology solutions to digitise the mortgage process in the country.

HOLO’s mortgage offer

Meanwhile, Holo which prides itself as being a one-stop solution for a buyer’s finance needs for the real estate sector, has announced an extremely lucrative offer.

For new buyers looking for a mortgage through their platform, Holo is offering to cover the first year of mortgage, capped at Dhs120,000 annually.

The platform said that it would pay out upto Dhs10,000 a month for a year, when you apply for your mortgage through Holo for one lucky applicant ( applications valid until June 9). The winner will be rewarded with a year’s worth of mortgage payments, with the amount disbursed into the winner’s account on a monthly basis.

Additionally, the mortgage broker predicts that recent reports, along with the US Fed indicators suggest a growing confidence that interest rates could dip into the 3 per cent range this year.

With the UAE Dirham pegged to the US Dollar, this projected decrease will inevitably influence mortgage rates in the country, presenting a significant opportunity for buyers to secure a mortgage loan in Dubai or Abu Dhabi at lower rates than what was seen the last couple of years.

How to apply for Holo’s mortgage offer?

Log onto the Holo portal, click ‘Get your mortgage now,’ and completing the application by June 9.

Provide essential details like the desired loan amount and residency status.

Once submitted, the application then facilitates the process by prompting relevant questions and takes you through the next steps.