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Mortgage on IC England

Discussion in 'Dubai property' started by IverMan, Feb 10, 2008.

  1. IverMan

    IverMan New Member

    Hi there,

    We bought into IC England off plan from Vakson in 2005 on the premise that we would pay 40% in stages and the outstanding 60% would be financed by mortgage from TAMWEEL.

    We've just been told to come for the keys (18 months late!) and that there would be no mortgage. Has anyone else gone through this disappointment?

    Were we deliberately misled?

    Ps. We live the in the UK and this is an overseas residential property investment for us.
     
  2. Lucky

    Lucky New Member

    Vakson Causing problems

    Hello,

    I also bought an appartment in 2005 and paid 40% now they told me its ready but they want me to pay 100% full payment b4 they will let me see the appt Or issue the Nakheel contracts and not only that they will not give me the key on the same day even if I give them cash.
    I think their demands are un reasonable and their behaviour unforgivable.
     
  3. Lysos

    Lysos New Member

    Surely, this is a matter for your solicitors ?.
     
  4. Zoheb

    Zoheb New Member

    Iverman, I too live in the UK and am in the same situation as you. Vakson are crooks. Cherry Ann and Shaheen have been dealing with me. They e-mailed me on 24th Dec 2007 and I flew out on 25th December 2007. They then arranged a meeting with UBL to arrange the finnance. I filled in the application but refused to pay 1% processing fees as they were not confirming the mortgage. I hate Vakson, they made me sign a power of attorney which the Dubai judge refused to sign as it said it was "irrevocable". So the judge put a line through the last paragraph.

    I called Cherry Ann today and she suggested I pay the remainder 60% cash. If I had the cash I would but I don't. Also was promised a balcony when I reserved the appartment. However X4 412 now doesn't. I am so annoyed. I was introduced to Vakson through Dubai Property Link.

    Feel free to call me on 07841175176.

    Zoheb
     
    Last edited: Feb 16, 2008
  5. paul1970

    paul1970 New Member

    Mortgage for International properties

    a) Any banks or lenders finanancing International city resale properties.

    b) What is the banks market rate for a 1BR apartment as per the evulation.

    c) How much % of loan do they offer from their market rate.


    Any information please.
     
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