Thread: Moroccan Banks
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Old 26-11-2007, 12:19 PM
Sunnyshores Sunnyshores is offline
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Join Date: Mar 2007
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I have contacted BMCE bank in London and they offer mortgages to foreigners on rental properties in morocco. They speak relatively good english and you can take all your papers to their office in London for approval, so seems easy enough. Their fees and interest rates are reasonable if you contact them directly, through a broker they charge considerably more. I didnt pursue it as I dont need a mortgage yet.

BMCE Bank London
(+ 44) 207 518 8252
abdallah.alaoui@bmcebank.co.uk
26 Upper Brook Street
London W1K 7QE

Re - 10% VAT on interest rates, not sure how this works. Also I was told by BMCE that an individual can only get one Moroccan mortgage at a time. Thus restricting purchases via this route.
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