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3k down

Discussion in 'Egypt property' started by steviego1, Jan 17, 2008.

  1. steviego1

    steviego1 New Member

    hi guys,
    ive only got 3k deposit to put down on a place in egypt. i know its not a lot,but i was hoping to mortgage the outstanding balance, is there any developments or developers that will be able to help me on this matter? this property will be used as buy to let investment. i know its very unlikley,but any help would be appreciated.


    thank you . stevie.:rolleyes:
     
  2. propertastic

    propertastic New Member

    The situation with mortgages in Egypt is still unclear. There are a lot of rumours, but no one has ever actually got one yet.

    But, even the most optimistic rumours are saying that the deal with be 65%LTV, so you're still not going to be able to get an apartment with only GBP3000 in cash.

    Sorry.
     
  3. DC

    DC Member

    3k down, mmm. Maybe, we had an apartment studio at 12k, 3k down would require a 75% mortgage, unless it was undervalued. Let me ask someone.
     
  4. queenie40something

    queenie40something Senior Member

    Hi Stevie - did you manage to find a property? Would welcome an update from you.

    Regards
    Alison
     
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