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اليوم السابع
Effect of hidden clause on apartment payments
The article discusses the subject of "transfer of rights" in real estate purchase agreements. It explains that this legal mechanism allows the property developer to transfer their financial rights arising from the purchase contract to another party, such as a mortgage financing company. The General Authority for Financial Control confirms that the "transfer of rights" is legal and permitted under civil law, and it is neither forbidden nor new. However, it requires notifying the buyer to ensure their rights are protected. When the rights are transferred to the mortgage financing company, the buyer becomes a client of that company, and this involves registering their debt in the "I-Score" system, which impacts their credit status and appears within their credit data. The article also reviews the growing mortgage financing market in Egypt, where the total amount of financing granted during June 2026 reached approximately 7.667 billion Egyptian pounds, compared to 5.538 billion pounds in June 2025. Despite a decrease in the number of contracts during the first half of 2026, mortgage credit balances increased to 63.8 billion pounds by the end of June 2026.
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