Can a english citzen bring back a mortgage contained by dubai and what is the requirements and rates?
Answers:
you can get a mortgage next to an international bank here for a place in dubai receive on the net !
yes you can the developer or the realetate company will arange a finance company to do it for you some of the repetitive mortgage companies are:
AMLAK
TAMWEEL
RAK BANK
MASHRIQ BANK
ADCB BANK
Yes..., you have to be UAE resident to start with. The requirements you can slickly find on the websites, the rates are more difficult to get.
Only lately more banks grant home loans... this is still quite new within the UAE. I know of 10 banks, see their sites on this real-estate page:
http://www.startpagedubai.com/real-estat…
Something that surprised me and you have to be aware of... every mound has certain projects / buildings where on earth you can get a mortgage on. If you like a place first check if nearby is a loan available and what bank or 'finance house' is linked to it. because within are buildings that are not in a list of any mound at all.
And the second thing that can trick you and that you own to find out before you make your calculation: the maximum percentage you get on the value (70% to 90%) of the property is mostly not calculated according to the price you money or the market value, but is taken from the resourceful price that the property first is sold for. So if you buy from an investor (many times the case in Dubai, and beside the shortage of properties they sell to you for lots more) than you have to retribution the premium (the difference) completely yourself. The bank will not finance this contained by most of the cases.
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