Strengthening the Role of Son/Daughters in Provision of Caregiving to their Parents Initiative
Housing Loan Repayment Extension
It allows a UAE national, who benefits from basic housing loans (housing construction loans, housing purchase loans, housing demolition and reconstruction loans) and who is the primary caregiver of his/her parents or one of them, according to the certificate issued by the competent authority, shall have the right to reduce the monthly installments through housing loan repayment extension.
Special Conditions for Eligibility for Housing Loan Repayment Extension
- The loan being collected shall be a basic loan (housing construction loan, housing purchase loan, housing demolition and reconstruction loan).
- The loan shall be fully refundable.
- The repayment period will be extended for additional five years, provided that it does not exceed the maximum repayment period for housing loans.
- The applicant shall be the primary caregiver of the senior citizen, according to the competent authority's approval, and shall have an individual loan.
- The applicant shall not have any.