Payment Schedule

1. First payment of 10% as deposit

2. Three further payments of 10% within a 6 month period.

3. Final 60% upon completion paid with either an arranged mortgage or cash.

Completion Approx. May 2009

Mortgage Details

Financing percentage**: 60% of the appraised unit value

Minimum Loan Amount: EGP 50,000 (approx. GBP 5,000)

Interest Rate: 7.9% on the outstanding balance

Tenor of Repayment: up to ten years

Application fees: EGP 2,5000 (approx. GBP 250)

Bank Processing and Administration Fees: 2.5% of loan amount (A one time fee)

Evaluation fees: EGP 500 (approx. GBP 50) for an apartment

Life Insurance: 0.35% of loan amount added annually on instalments

Property Insurance: 0.05% of the property value, excluding the land charged yearly to cover fire damages.

Instalment: Does not exceed 35% of the gross monthly income.

**Before financing the property, it must be evaluated by a certified and approved appraiser.

Borrowers Documents:
· Copy of passport
· TDP Loan request application
· Acceptable proof of income
· Acceptable credit history report

Regular terms and conditions
· The borrower should not exceed the age of 59 at the time of applying for the loan, and do not exceed 65 years old by the time of setting his/her last instalment (unless he/she enjoys a life insurance coverage that is assigned to bank).
· The property shall be in the name of the borrower and mortgaged to the Bank.
· The borrower has the right to sell or rent the property after securing the Mortgage

*Yet to be confirmed