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property mortgage on resales, easiest way to apply

Discussion in 'Dubai property' started by Safrica, Mar 26, 2008.

  1. Safrica

    Safrica New Member

    Hi
    I have confirmed a deal to purchase 3 propertys
    Ocean heights
    Emirates Gardens and Discovery Gardens.

    how do i go about applying for a mortgage.
    i do not live in dubai,
    I have tried numerous websites with no response

    What is the best finance rate in dubai?

    Can anyone please assist me

    Regards
     
  2. naguru

    naguru New Member

    Hi Safrica
    Please try RAK Bank. they might be of help. Just go to their website.
    cheers
     
  3. mpat

    mpat New Member

    Try first gulf bank and mashreq also
     
  4. Safrica

    Safrica New Member

    bond advisors

    hi
    would anyone suggest a bond advisor company that deals with all the banks
     
  5. dpc

    dpc New Member

    You can do a google search as there are quite a few mortgage brokers in Dubai. I would definitely use a mortgage broker as they tend to have friends in the banks and they can stretch to give you a better deal or higher loan to value.
     
  6. Roshan

    Roshan New Member

    If you are in the UK. You can contact Global Eye. They are professional in their approach. Your best option would be to go through a mortgage broker.

    PS : Some mortgage broekrs do not charge you for the services and they take the commision from the bank. Some of them charge you. Thi shouod be the first question to ask.

    Good luck.

    Regards

    Roshan
     
  7. Safrica

    Safrica New Member

    Amlak is it the way to go???

    I have been contacted my Damac Mortgages,
    I have been told that my best bet is Amlak because i am a non resident.
    Finance at 8.5%

    Anyone advise any better?
    Seems like Dubai is so busy that no one replies any calls, you need to take what you get
     
  8. gillianpalao

    gillianpalao New Member

    Hi, i have also been trying to get finance, but to no avail. Were you successful?
     
  9. TommyC

    TommyC New Member

    In march, when he posted, it probably wasn't a problem. Now, mortgage market is dead! :eek:
     
  10. AbraCadabra

    AbraCadabra New Member

    Amlak announced yesterday that they have completely stopped offering loans (temporarily).
     
  11. georgihh

    georgihh New Member


    Amlak stopped giving loans – what does it mean?

    All the people in trouble are going to lose their deposits
    The shaky developments and developers are going to bankrupt
    The excessive amount of developments will be cleared in couple of months
    The prices will go down a bit and than escalate due to not sufficient supply.
    After that when the prices double Amlak will start giving loans again
     
  12. Roshan

    Roshan New Member

    Ensure that one hand does not know what the other is doing....meaning...apply one at a time.

    If your profile fits a certain amount t, then there should be no problem. If your profile does not fit that you finance all properties, then follow the above rule.

    Banks are a bit hesitant at the moment. Try out never the less.

    Regards

    Roshan
     
  13. revolutionary

    revolutionary New Member

    I'm just about to get the keys to my apartment. I've been lucky and paid with straight cash but would now like to release some money for picking up bargains elsewhere.

    Which banks are offering mortgages right now of any %age?
    What percentages do people think will be normal when the markets settle down in the new year?
    Do I need to become a resident to get a mortgage?
    Do any UK banks provide a mortgage on the security of a Dubai property?

    Please don't suggest a UK remortgage since I was one of the very lucky ones that locked a high percentage with Northern Rock and am now blissfully well into negative equity!
     
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