Does anyone know which bank refinances one bed flat in Dubai International City?

[chand]

Does anyone know which bank refinances one bed flat in Dubai International City?

[georgihh]

Originally Posted by chand

Does anyone know which bank refinances one bed flat in Dubai International City?

I am also looking for one.
I don’t think this business exist in UAE

[chand]

I heard there are some banks that do refinance.
Dear Friend If your are in UAE please cheak about and share info. Someone told there are two banks that refinance, tameer and Amlak

[eyeC]

hi everyone

i heard the other day but im not 100% sure if it was tamweel

refinance is possible in dubai

but its low 70% of (original price) what you paid few years ago for the flat

so i think the max. they will lend you about 160,000 AED against a studio flat in IC

[Lsab]

Does anyone know if any banks are offering refinance on studios in IC. Ours is paid for, no keys yet, and we'd really like to take out a mortgage on it in order to finance our next project. Appreciate any information.
Many thanks

[eyeC]

yes you can refinance your property in IC

you can recieve upto 80% with around 8% rate also they still need to look at your salary transfer and liablities

[Lsab]

Which of the banks are refinancing and do you have to be living in Duabi in order to do so? Just wondered about the salary thing.
Thanks

[zombie]

Yes you can refinance, I had a long discussion with the exec at Tamweel, upto 70%, not sure but they will value the property for you at your cost ofcourse, but You need to be resident & employed in dubai having sufficient salary to pay the EMI required, which can be a max of 55% of you fixed salary as per Central Bank rules, if you have other loans(auto, personal, company etc.), it gets added to your 55% reducing the loan amount. They do consider to a very small extent the income you receive as rent. But no rent to own, though the rental returns seem to be sufficient.

Have heard that Amlak also refinances property in IC1

Hope this helps

Vikram

[Lsab]

Originally Posted by zombie

Yes you can refinance, I had a long discussion with the exec at Tamweel, upto 70%, not sure but they will value the property for you at your cost ofcourse, but You need to be resident & employed in dubai having sufficient salary to pay the EMI required, which can be a max of 55% of you fixed salary as per Central Bank rules, if you have other loans(auto, personal, company etc.), it gets added to your 55% reducing the loan amount. They do consider to a very small extent the income you receive as rent. But no rent to own, though the rental returns seem to be sufficient.

Have heard that Amlak also refinances property in IC1

Hope this helps

Vikram

Thank you for that Vikram,

I was pretty sure that you had to be living in Dubai but unfortunately, we live in another GCC country, so that's not going to work for us.

Thanks once again
Linda

[FALKI]

Originally Posted by realtymatching

We are amongst the few banks in UAE who provide Re-finance.
Please email me your contact information like Name, Phone numbers and let our experts call you regarding refinance.

Yeah My name is Fateh K Malik phone 00923008558836 . I own few one bedroom/studios in International City all paid for and taken possession. I need to refinance. please call or e mail. thanks Fateh Malik