Nazar Verbytskyy
Founder & CEO
Age 60+
Term extended with a co-borrower
The age limit cut the term short. Adding a family co-borrower brought the payment within the debt-burden limit.
2 min read · Details changed to protect the client's privacy.
A quick overview
| Situation | Salaried resident, age 60+ |
|---|---|
| Country / currency | UAE / AED |
| Property | Ready apartment |
| What went wrong | A five-year term pushed the payment above 50% of income |
| The bank that said yes | A bank that allows a younger family co-borrower |
| Result | Longer term, payment within the limit |
The problem
UAE banks want a salaried loan repaid by 65. At 60 that left a five-year term, and the monthly payment on that term was far above the 50% debt-burden limit.
What we changed
We added a younger family member as a co-borrower, which let the bank calculate the term on the younger age. The payment fell back within the limit without changing the property or the price.
The outcome
Approved with the longer term. Details changed to protect the client's privacy.
Advisor on this case
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Details changed to protect the client's privacy.