April 23, 2020 / 7:48 AM / a month ago

BRIEF-Saudi's SRC And Its Servicers Offer Repayment Deferral Plan To Mortgage Beneficiaries

April 23 (Reuters) - SAUDI REAL ESTATE REFINANCE COMPANY (SRC):

* COMPANY AND ITS SERVICERS OFFER REPAYMENT DEFERRAL PLAN TO MORTGAGE BENEFICIARIES

* MORTGAGE FORBEARANCE OPTION IS AVAILABLE FOR PRIVATE AND HEALTH SECTOR EMPLOYEES (EXCLUDING FINANCIAL INSTITUTIONS), AND SELF-EMPLOYED INDIVIDUALS AFFECTED BY THE COVID-19 PANDEMIC

* PLAN ALLOWS THEM TO EXERCISE OPTION OF DEFERRING MORTGAGE PAYMENTS FOR AT LEAST THREE MONTHS WITHOUT ANY ADDITIONAL COST

* HOMEOWNERS IN FORBEARANCE PROGRAMME WILL NOT INCUR LATE FEES OR ANY OTHER HIDDEN CHARGES WITH MORTGAGE TENURE INCREASING BY SAME PERIOD AS DEFERMENT PERIOD I.E. THREE MONTHS

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