Home buyers in the capital 'are hungry for mortgages', according to the chief executive of a new home finance company.
Abu Dhabi Finance is receiving about 100 phone calls a day and has given out a handful of mortgages since opening for business on Nov 26. 'We are delighted with the interest so far,' said Philip Ward, the chief executive of the company. 'We expect to really pick up in the early part of next year.'
He said people who had bought apartments off-plan were seeking mortgage finance to cover their payments. These customers were opting to put their money into property investments over a longer period, leaving them with a more regular obligation and less cash down before the completion of construction.