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Foreign Property Mortgage

femora
femora Posts: 5 Forumite
in Mortgages & endowments
Bought a house under construction in the UAE - paid 40% already but need a mortgage for the balance - any suggestions of best way to raise a mortgage in this climate?

Comments

  • ILW
    ILW Posts: 18,333 Forumite
    You paid 40% and did not have a mortgage arranged for the balance?
  • femora
    femora Posts: 5 Forumite
    The 40% was not paid at a go - it was in installments - which still continues, but I would need a mortgage to spread the payment
  • dwsjarcmcd
    dwsjarcmcd Posts: 1,857 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    You need a broker that specialises in this type of thing. Did the developer not offer to put you in touch with one? Alternatively google something like 'UAE mortgages'
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    I use a specialist broker for such cases but I dont think I'm allowed to give out a name here. Please be very careful as there are a few charlatons out there, some of whom are based outside UK juristiction. I have bought some stuff abroad too. You should deal only with a UK based broker.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    You will need to speak to a whole of market adviser who can help with this specialist scenario
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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