mortgages in egypt

[awahee123]

Hello Peter,
I think it may be El Riad that are offring the above, it does state it on the lotus breeze website.
I am still also looking for info regarding mortgages ,however nothing yet im afraid.

 

[propertastic]

Did anyone see this in the FT today?:

FT.com / Reports - Mortgages: Meeting the housing shortfall

 

[Peter Mitry]

I have yet to hear from one single person who has been granted a mortgage from an Egyptian bank and can show the offer letter in writing. It will be a great day when it happens! It's a bit sad don't you think? Awahee123 and me seem to be the only people sitting in front of a computer at this time on a Sunday morning!! I stayed up to watch the X Factor live final - thats my excuse and how sad is that!

 

[dave99]

No Mortgages o non-Egyptians

I have yet to hear from one single person who has been granted a mortgage from an Egyptian bank and can show the offer letter in writing. It will be a great day when it happens! It's a bit sad don't you think? Awahee123 and me seem to be the only people sitting in front of a computer at this time on a Sunday morning!! I stayed up to watch the X Factor live final - thats my excuse and how sad is that!

It is a fact - NO mortgages for non-Egyptians, confrmed on behalf on the whoe banking system by TWO banks in Hurghada - YET.

Also anyone even consideing this option for financing a property has to be aware of all of the requirements, such full registration, which means it cannot be used for buying off-plan until the property is almost complete.

..

 

[wemyss1960]

Original post 10th Dec 2007

I have looked at the Lotus Breeze website and it is registered to No More Hotels Ltd, a London based company started by ex Worldwide Destinations staff (Desert Pearl, Sunset Pearl, Coral Pearl etc). No More Hotels are marketing Lotus Breeze as their own and yet if you check the web many agents are selling it, including mine!
WWD were offering mortgages through Egyptian Mortgage Alliance, a broker based in Spain who are trying to establish mortgages through Egyptian banks. However, to the best of my knowledge none have yet been completed. The Lotus Breeze website contains an ad for Egyptian Mortgage Alliance.

what ever happened to Egyptian Mortgage Alliance?

 

[yorkshire boy]

what ever happened to Egyptian Mortgage Alliance?

if anybody knows please tell us. this company took 375 euros off me to start the proceedings for a mortgage. and guess what...... i have not heard a thing off them since, and to top it off i cant get hold of anyone to get my money back either by phone fax or email.
looks like ive been ripped off eh!!!

 

[dands]

Mortgages

WITH THE COMPLETETION OF DESERT PEARL WOULD SOMEONE LET ME KNOW WHAT TERMS AND CONDITIONS THERE ARE WITH THE MORTGAGES AND WHAT THE RATES ARE AS I AM PURCHASING AN APARTMENT IN SUNSET PEARL AND I NEED TO KNOW AS THE COMPLETETION DATE IS VERY SOON.

THANKS A LOT

 

[queenie40something]

Hi Dands and welcone to the forum. I have moved your thread into this existing one on mortgages where you will find lots of info. If you use the search facility you will normally find a thread that has already been started on a particular subject.

If you need any assistance navigating the forum please dont hesitate to ask me.

Alison

 

[HORIZON]

WITH THE COMPLETETION OF DESERT PEARL WOULD SOMEONE LET ME KNOW WHAT TERMS AND CONDITIONS THERE ARE WITH THE MORTGAGES AND WHAT THE RATES ARE AS I AM PURCHASING AN APARTMENT IN SUNSET PEARL AND I NEED TO KNOW AS THE COMPLETETION DATE IS VERY SOON.

THANKS A LOT

With regards to Sunset Pearl, Pyramisa Group is taking care of mortgages.
Option 3 :
40% Within one month upon signing the PPC
50% over up to 5 years from signing PPC in equal quarterly installments with 5% fixed flat interest.

 

[danny]

This is looking very promising, this is exactly what we needed, the availability of credit to get the markets moving. the website mentions upto 80% LTV at an eye watering 14% mind, (+4% above current egypitian base rate) but its a start!


:: Taamir Mortgage Co. ::

Briefly glossing through the guidelines it would appear that these mortgages will be of no use to most purchasers as they only apply to registered properties and not for pre-construction purchases.
__________________

 

[Organics1]

Briefly glossing through the guidelines it would appear that these mortgages will be of no use to most purchasers as they only apply to registered properties and not for pre-construction purchases.
__________________

I had a quick look myself but when I saw the 14% rate I left the site.

Thankfully I'm not looking to buy with finance but if that's true very well spotted Danny.

As I mentioned in another thread there are understandably people on this forum looking after there own interests.

 

[dave99]

Sounds good

Whilst this is not a mortgage it goes some way to allowing easier payments.

With regards to Sunset Pearl, Pyramisa Group is taking care of mortgages.
Option 3 :
40% Within one month upon signing the PPC
50% over up to 5 years from signing PPC in equal quarterly installments with 5% fixed flat interest.

 

[rossantony]

available to UK residents

At last mortgages in Egypt!

Ok so you have to be wealthy, working with a minimum combined income of $5000 a month in salary, and be looking to buy a finished property that is properly registered, but still it's a real mortgage, open to UK residents.

The bank has offices in Hurghada, and London. I have in my possesion all the information from the bank.