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- Status
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cin7166
New Member
That's not bad. Who is offering the mortgage? Does the property have to be complete?
J
jeremy bright
New Member
think so is through sigma the people building marlion and also on offer is to sell after 2-3 years there estimate is if you buy for £32.500 they will sell for you for £52.000
L
lyndsay552
New Member
I'm off to see my nice friendly bank manager tomorrow. We have quite a small mortgage compared to the value of our house and our yearly incomes. We plan to extend our mortgage but to take the money interest only, to cut down the monthly repayments.
This will mean that even if we don't re-locate we will have two invest properties which for instance if we sell in 5 years will be worth an awful lot more than we borrowed, hence why we are only going for interest only, instead of repayment.
Worth thinking about for anyone else who is in our position and wanting to invest.
This will mean that even if we don't re-locate we will have two invest properties which for instance if we sell in 5 years will be worth an awful lot more than we borrowed, hence why we are only going for interest only, instead of repayment.
Worth thinking about for anyone else who is in our position and wanting to invest.
D
dave99
New Member
HSBC Egypt - Home Loans
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Just taken this from HSBC web-site.
Lists EURO / USD for the money borrowed. NO specific reference to NON-Egyptian borrowers but it is implied.
Please note that there is a requirement to register the property and have a Property Tax Certificate.
Not clear from this how easy it will be but its a big step forward.
Documents required for Completed Units
An official copy of the Registered Title Deed
Real Estate "Form 19" (Certificate of all transactions related to the property)
A copy of the construction permit
Property tax certificate
Documents required for properties under construction
Documents evidencing property ownership (Allocation notice, handover, financial status for payment)
Copy of the building permit and architecture sketches
.
.
.
Just taken this from HSBC web-site.
Lists EURO / USD for the money borrowed. NO specific reference to NON-Egyptian borrowers but it is implied.
Please note that there is a requirement to register the property and have a Property Tax Certificate.
Not clear from this how easy it will be but its a big step forward.
Documents required for Completed Units
An official copy of the Registered Title Deed
Real Estate "Form 19" (Certificate of all transactions related to the property)
A copy of the construction permit
Property tax certificate
Documents required for properties under construction
Documents evidencing property ownership (Allocation notice, handover, financial status for payment)
Copy of the building permit and architecture sketches
.
.
J
jeremy bright
New Member
i was just looking on the hania beach thread and there is talk of mortgage with HSBC
L
lyndsay552
New Member
With the talk of high interest rates, does this mean you will get a high interest on a savings account?
wemyss1960
New Member
Hsbc
I have just checked the HSBC wesite egypt hsbc housing-finance (not allowed to post the exact web address)
If you use the calculator it shows an interest rate of 12%
I will be speaking to a couple of companies later this week to determine some criteria and rates. I will keep you posted!
Cheers
Stuart
(that was me in bulls!)
I have just checked the HSBC wesite egypt hsbc housing-finance (not allowed to post the exact web address)
If you use the calculator it shows an interest rate of 12%
I will be speaking to a couple of companies later this week to determine some criteria and rates. I will keep you posted!
Cheers
Stuart
(that was me in bulls!)
wemyss1960
New Member
Hsbc
put 'wesite' as HSBC rate stinks
cheers
Stuart
put 'wesite' as HSBC rate stinks
cheers
Stuart
H
hiszein
New Member
Egypt Mortgage with Damac Properties
Please note that we have tied up with Financial Institutions in Egypt which are willing to provide Mortgages for our properties in Egypt. Below are the details:
1) Mortgage can be extended to Egyptians living abroad or non-Egyptians living in Egypt with valid work permit.
2) Mortgage house can finance up to 80% of the value of the property (the customer has to pay the first 20% and then the CIB will finance).
3) Interest rate is 11.5% for the first five years and 12% years after.
4) Mortgage to go up to 15 years.
5) Customers can choose to either pay escalating installments, fixed installments or pay the interest first and then principal (the later is good for investors)
6) Arrangement fee is 1.5% of the value of the loan (paid once at the initiation of the deal).
7) The customer should make a life insurance with the value of the loan and make the CIB as the beneficiary under this policy.
8) We can finance in LE or US$ (however, in US$ financing, the customer must prove that he/she has income stream in US$).
9) We can finance employees and self employed as well (however, for self employed, they can finance up to 65% of total value of the property).
10) Customer will receive (on the spot) a preliminary approval on the loan amount and schedule of monthly payments, providing that all information he/she gave to the Mortgage house if correct and providing that he passes the medical test "for life insurance considerations").
Please note that we have tied up with Financial Institutions in Egypt which are willing to provide Mortgages for our properties in Egypt. Below are the details:
1) Mortgage can be extended to Egyptians living abroad or non-Egyptians living in Egypt with valid work permit.
2) Mortgage house can finance up to 80% of the value of the property (the customer has to pay the first 20% and then the CIB will finance).
3) Interest rate is 11.5% for the first five years and 12% years after.
4) Mortgage to go up to 15 years.
5) Customers can choose to either pay escalating installments, fixed installments or pay the interest first and then principal (the later is good for investors)
6) Arrangement fee is 1.5% of the value of the loan (paid once at the initiation of the deal).
7) The customer should make a life insurance with the value of the loan and make the CIB as the beneficiary under this policy.
8) We can finance in LE or US$ (however, in US$ financing, the customer must prove that he/she has income stream in US$).
9) We can finance employees and self employed as well (however, for self employed, they can finance up to 65% of total value of the property).
10) Customer will receive (on the spot) a preliminary approval on the loan amount and schedule of monthly payments, providing that all information he/she gave to the Mortgage house if correct and providing that he passes the medical test "for life insurance considerations").
A
awahee123
Banned
Whilst there is a lot of talk about mortgages the truth about this issue is no Egyptian Bank is going to give you a mortgage for an Off plan development.
I think we have been down this road before,has naybody actually got a mortgage for their off plan development?.
There might be some chance once those resell properties become available.
I think we have been down this road before,has naybody actually got a mortgage for their off plan development?.
There might be some chance once those resell properties become available.
H
hiszein
New Member
mortgage
there is a new low of mortgage in Egypt for off plane developments , I think is must be related to it
Hisham
there is a new low of mortgage in Egypt for off plane developments , I think is must be related to it
Hisham
N
NoMoreHotels
New Member
The truth about Mortgages
Agreement In Principle (AIP) available 18 months before completion.
Subject to UK status and credit rating
Repayment term 5 - 12 years
Completion before 65th birthday
Rates from 6.5%
LTV 65%
Have arranged at least 10 mortgages for Lotus Breeze investors to date, with more to be arranged nearer to completion.
If you are looking to invest into Egypt with Lotus Breeze with a mortgage why not PM and I will talk you through it.
Adam Caan
YES, MORTGAGES ARE AVAILABLE!!!!
Agreement In Principle (AIP) available 18 months before completion.
Subject to UK status and credit rating
Repayment term 5 - 12 years
Completion before 65th birthday
Rates from 6.5%
LTV 65%
Have arranged at least 10 mortgages for Lotus Breeze investors to date, with more to be arranged nearer to completion.
If you are looking to invest into Egypt with Lotus Breeze with a mortgage why not PM and I will talk you through it.
Adam Caan
Roger
New Member
HSBC are offering 60% LTV at 1% over base for Hania, guaranteed on completion. This may be a special agreement, but as others have said - Egyptian mortgages for non Egyptians are definitely out there...
Roger
Roger
S
Sarah C
New Member
Hi Guys,
Im a qualifed UK mortgage advisor. If anyone would like to discuss these mortgages or any other finance related querie, please PM me.
I am not looking for business, i have bought an apartment in Desert Pearl and the help i got on here was invaluable, so all i want to do is help.
Regards.
Sarah
Im a qualifed UK mortgage advisor. If anyone would like to discuss these mortgages or any other finance related querie, please PM me.
I am not looking for business, i have bought an apartment in Desert Pearl and the help i got on here was invaluable, so all i want to do is help.
Regards.
Sarah
Peter Mitry
<B>Egypt Forum Founder Member</B>
Is there one single purchaser out there who can honestly say that they have received an offer from an Egyptian bank of a mortgage at 6.5% secured on their property purchase in Egypt? I am not talking about an 'offer in principle' from a broker but an actual offer in writing from an Egyptian bank. Please tell us - many people on the forum would like to know. The truth so far is that all the talk of mortgages at low interest rates comes from agents who would like to see a mortgage in place.
You can count me in on that; I will be delighted when there is one but I am not prepared to promise my clients anything until I have seen it in writing from a bank.
You can count me in on that; I will be delighted when there is one but I am not prepared to promise my clients anything until I have seen it in writing from a bank.
D
dave2u
New Member
what is the latest with Egyptian Mortgage Alliance and mortgages i believe there are over 50 on dessert pearl waiting to hear if there will be a mortgage 6.5% over 12 years and as completion is soon then i think it will be interesting if this company can give the market some good news.
Peter Mitry
<B>Egypt Forum Founder Member</B>
We will all be waiting to hear the outcome of these mortgage promises. It will be a huge boost if Egyptian Mortgage Alliance have been successful. Anyone received a firm offer yet?
realestatemart
Banned
All till now is talking in government meetings and we still all waiting their final details and decisions
wemyss1960
New Member
Mortgages
I have Just received this reply from HSBC
Thank you for your e-message. Please note that we offer housing finance for Egyptians.
For further assistance, please arrange to contact us on +2 02 19007 or +2 02 27281300, 24 hours a day, 7 days a week.
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Adam Caan,
would you like to give us any information on the mortgages you or your developer have agreed?
can you give us specifics?
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As of Monday 23rd February I will have a dedicated IFA who's sole responsibilty will be Egypt. I will update you on his progress as it happens.
regards
Stuart (UK mortgage broker - Primary Mortgage Centre)
I have Just received this reply from HSBC
Thank you for your e-message. Please note that we offer housing finance for Egyptians.
For further assistance, please arrange to contact us on +2 02 19007 or +2 02 27281300, 24 hours a day, 7 days a week.
--------------------------------------------------------------------------
Adam Caan,
would you like to give us any information on the mortgages you or your developer have agreed?
can you give us specifics?
--------------------------------------------------------------------------
As of Monday 23rd February I will have a dedicated IFA who's sole responsibilty will be Egypt. I will update you on his progress as it happens.
regards
Stuart (UK mortgage broker - Primary Mortgage Centre)
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