Hi
first no bank will give 95% mortgage for a property if you can get 80%finance you are lucky
second banks do check if you have borrowed money from other banks in the UAE
i think interest rate for personal loan is at 17% from HSBC which is very high so it is not feasible to use this money for home down payment and specially in downturn
17% means your loan amount will be paid double in less than 5 years
in theory if you take a mortgage for a home with 20% down payment and if home prices come down a lot the bank may ask you to increase the down payment at a later stage ..so be prepared you might need more money if deflation continues
check with a mortgage adviser although most of them in the local market here don't know about this
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