If you have a social housing apartment and you think that you are tied to it for years and are forbidden to sell or dispose of it…this news will concern you very much.. The Social Housing Fund announced a new decision that could change the accounts of many people.. Stay with me.
The Social Housing Fund has officially agreed to accept requests for accelerated payment even before the end of the prohibition period, provided that the apartment has been received for more than 3 years.
But keep in mind, you have to submit an application and pay 5 thousand pounds in fees. This money is not returned, but if the application is accepted, it will be deducted from the final amount. The payment amount varies according to the period of receipt of the apartment:
From 3 to 4 years, you pay 50% of the price difference
From 4 to 6 years, you pay 40%
From 6 to 7 years, you pay 30%
Even those who have sales violations or records can submit a reconciliation, but they pay 80% of the price difference, and this is if the violation occurred 3 years ago. The good news is that the Fund has launched two online services:
The first: submitting a request for expedited payment or reconciliation.
The second: inquire about the status of the request.
It is all electronic, without traffic, without direct interaction, and with complete transparency. But remember… you must have paid all your installments to Alawwal Bank, and obtained a final settlement.
