WarbaBank

• All services to customers are provided digitally and in compliance with the provisions of Islamic Sharia.
• The property to be financed includes all parts of "England" and "Wales" and is not limited to a specific project or region.

Property purchase plan and financing period:

• Home Purchase Plan::from 5 to 35 years, at an amount ranging from £100,000 up to £2.5 million.
• Conditions::
  • The property value should not be less than £125,000.
  • The customer must be between 21 – 75 years as a maximum at the end of the financing period.

Warba Bank signed a cooperation agreement with the London based Gatehouse Bank to provide the best services and financing solutions compliant with the provisions of Islamic Sharia to its customers who want to buy properties throughout England and Wales, and all these services will be provided digitally for a period of up to 35 years

Mrs. Lulwa Adnan Al-Roudan, Director of the Private Banking Department at Warba Bank, said that "the agreement promotes the Bank's continuous efforts for building long-term strategic relationships with the experienced institutions in managing third party properties and real estate in the United Kingdom, such as the London based Gatehouse Bank, which provides the best solutions and services in this field."

Warba Bank strengthens its position as one of the leading Kuwaiti banks in providing distinguished and varied services to its customers in the British real estate market, specifically residential real estate, as it remains one of the most prominent investment destinations in the world and the most attractive to investors among various capitals of the world.

Al-Roudan added; " In Warba Bank, we will work to facilitate the steps of requesting financing and searching for the suitable property according to the customer's budget.

The property to be financed shall be all over England and Wales and is not limited to a particular project or area as prevalent in recent times.

Al-Roudan pointed out that according to the agreement, the London based Gatehouse Bank will facilitate real estate financing and property management with a budget suitable for its customers, adding that the bank customers only will be eligible for this service, but non-Warba customers will be required to open an account with "Warba Bank" to take advantage of this service.

Al-Roudan reported that the most prominent features are:

• Easy and flexible steps to apply for financing.
• A term of up to 35 years.
• Salary transfer is not required.
• Compliant with the provisions of Islamic Sharia
• Long experience in property management.
• The steps of submission and application are all digital.

Al-Roudan stated that due to the importance of the real estate sector in Britain for many Warba Bank customers- , specifically the residential property, and for availing from the global "Coronavirus" crisis to seize real estate opportunities due to the depreciation of the exchange rate of the sterling pound and the recent changes in the residency laws in the United Kingdom, which are all in the interest of investors, as well as benefiting from the decrease in the value-added tax rate for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions from 20% to 5%, starting from 15/7/2020 till 12/1/2021

"Warba Bank" has been keen on signing this agreement with the London based Gatehouse Bank to provide excellent services to its customers, especially that the real estate market in the United Kingdom is classified as one of the top markets traded in the world.

Al-Roudan confirmed that the Gatehouse Bank was specifically chosen due to its accumulated experience in this field in the British market and it manages real estate and property through its subsidiary company "Ascend", in addition to that Gatehouse Bank is authorised by the Prudential Regulation Authority (PRA), and regulated by PRA and the Financial Conduct Authority (FCA).