Does the bank require a salary transfer for mortgage finance? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Does the bank require a salary transfer for mortgage finance?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Some banks require the salary or the instalment to be transferred as additional security, but finance can be obtained without a salary transfer by providing bank cheques (security cheques) covering the full value of the instalments as an alternative guarantee.

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