Thanks Design_Architect,
I was thinking that you can make use of both...
for example, suppose you get yourself a "pre-approval" first (so you know how much to "aim" for) say, 2.5 Million AED (depending on your salary)
Then, you borrow some money from the bank (eg. 100,000 DH) which will lower your approved mortgage (comes down to 1.7 million, let's say) and then you use the money from the bank to get the property at launch (esp. if your bank would cover upto 95%)
Then, as the bank will only start charging you once you get the apartment from the developer, you are left with paying the personal loan only..! (this applies to Islamic Mortages, but I don't know if this applies to other non-islamic ones)
The question is: How easy (or difficult
) is it to flip a property under mortage ?? are there any "hidden" expenses that one should be aware of?
Please gurus, enlighten us with your wisdom