Sakani introduces mortgage transfer, subsidized loan rescheduling options

Logo of Sakani program

Saudi Arabia’s Sakani housing program announced the introduction of the mortgage transfer and subsidized loan rescheduling services for some housing units under certain conditions, it said in a tweet.

These services will cover all the financing entities, and beneficiaries can get all the relevant details via the financing entity upon their announcement.

Non-defaulters and those beneficiaries who secured fully or partially subsidized mortgage loans are eligible for the mortgage transfer service, provided the loan still has a remaining tenor. However, this service is not available for the beneficiaries of the military and civilian support initiatives, as well as beneficiaries of the outstanding loans.