Quote:
Originally Posted by dave99
Hi
I also met the HSBC manager in Hurghada last week and he told me about about the 60% mortgages, but not as cheap as 6%.
They are for a short term maybe up to 7 years, and have to be checked against all of your other credit worldwide, so may not be any point if you can get the money in the UK as an extension on your UK property or as a personal loan which may be easier to handle. Property registration in Egypt is a potential concern and will be even worse when complicated by a mortgage, but is is now more easily completed than it was year ago.
Your re-payments will also be subject to currency flucuations which you cannot control and will create more problems. They will do a GB sterling loan but at a higher rate of interest.
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i would have thought this would make it more secure and safer i.e no title deeds no mortgage