Standard Chartered Bank has unveiled a new mortgage facility after a customer based research highlighted that the affluent and high net worth non residents in UAE did not have access to a mortgage offering that met with their needs.

Standard Chartered Bank said that the new mortgage facility will offer non UAE residents a customised approach to avail loans of up to $5m.

Standard Chartered Bank added that the facility will available on either new or existing properties providing they were built by one of the bank’s registered developers such as Emaar, Nakheel, Dubai Properties, Union Properties, World Trade Center Residences, Aldaar, Al Barari, Sorouh, TDIC, Victory Heights, Manazel, ETA Star, IFAA and Zabeel.

David Inglesfield, regional head of private banking in Middle East & North Africa, said: “We have shifted from a product focus to being more customer focused and as a result we have been developing better service and product packages based around our customers’ needs rather than adopting a one size fits all approach. Through this strategy, we have built up great momentum and are maintaining this growth by continuing to invest in our business and through the development of products like this one.”