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"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."
Say if the interest rate is 5%, you than add 10% Vat on the 5% so its gives you an interest rate of 5.50%. in another way if your monthly paument is €100 you add 10%, you than pay €110 per month, the €10 is the VAT.
As per Moroccan law one mortgage is allowed per person. When you apply for a mortgage you have to provide a swon document to this effect.
If you intend to buy more than one property than make sure that you dont buy in joint names and this give you the possibilty of applying in your partnerws name later on.
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