Mortgage in Egypt

[awahee123]

Whilst there is a lot of talk about mortgages the truth about this issue is no Egyptian Bank is going to give you a mortgage for an Off plan development.
I think we have been down this road before,has naybody actually got a mortgage for their off plan development?.
There might be some chance once those resell properties become available.

[hiszein]

there is a new low of mortgage in Egypt for off plane developments , I think is must be related to it
Hisham

Originally Posted by awahee123

Whilst there is a lot of talk about mortgages the truth about this issue is no Egyptian Bank is going to give you a mortgage for an Off plan development.
I think we have been down this road before,has naybody actually got a mortgage for their off plan development?.
There might be some chance once those resell properties become available.

[NoMoreHotels]

Originally Posted by awahee123

Whilst there is a lot of talk about mortgages the truth about this issue is no Egyptian Bank is going to give you a mortgage for an Off plan development.
I think we have been down this road before,has naybody actually got a mortgage for their off plan development?.
There might be some chance once those resell properties become available.

YES, MORTGAGES ARE AVAILABLE!!!!

Agreement In Principle (AIP) available 18 months before completion.
Subject to UK status and credit rating
Repayment term 5 - 12 years
Completion before 65th birthday
Rates from 6.5%
LTV 65%

Have arranged at least 10 mortgages for Lotus Breeze investors to date, with more to be arranged nearer to completion.

If you are looking to invest into Egypt with Lotus Breeze with a mortgage why not PM and I will talk you through it.

Adam Caan

[Roger]

HSBC are offering 60% LTV at 1% over base for Hania, guaranteed on completion. This may be a special agreement, but as others have said - Egyptian mortgages for non Egyptians are definitely out there...

Roger

[Sarah C]

Hi Guys,

Im a qualifed UK mortgage advisor. If anyone would like to discuss these mortgages or any other finance related querie, please PM me.

I am not looking for business, i have bought an apartment in Desert Pearl and the help i got on here was invaluable, so all i want to do is help.

Regards.

Sarah

[Peter Mitry]

Is there one single purchaser out there who can honestly say that they have received an offer from an Egyptian bank of a mortgage at 6.5% secured on their property purchase in Egypt? I am not talking about an 'offer in principle' from a broker but an actual offer in writing from an Egyptian bank. Please tell us - many people on the forum would like to know. The truth so far is that all the talk of mortgages at low interest rates comes from agents who would like to see a mortgage in place.

You can count me in on that; I will be delighted when there is one but I am not prepared to promise my clients anything until I have seen it in writing from a bank.

[dave2u]

what is the latest with Egyptian Mortgage Alliance and mortgages i believe there are over 50 on dessert pearl waiting to hear if there will be a mortgage 6.5% over 12 years and as completion is soon then i think it will be interesting if this company can give the market some good news.

[Peter Mitry]

We will all be waiting to hear the outcome of these mortgage promises. It will be a huge boost if Egyptian Mortgage Alliance have been successful. Anyone received a firm offer yet?

[realestatemart]

Originally Posted by Peter Mitry

We will all be waiting to hear the outcome of these mortgage promises. It will be a huge boost if Egyptian Mortgage Alliance have been successful. Anyone received a firm offer yet?

All till now is talking in government meetings and we still all waiting their final details and decisions

[wemyss1960]

I have Just received this reply from HSBC


Thank you for your e-message. Please note that we offer housing finance for Egyptians.

For further assistance, please arrange to contact us on +2 02 19007 or +2 02 27281300, 24 hours a day, 7 days a week.

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Adam Caan,

would you like to give us any information on the mortgages you or your developer have agreed?

can you give us specifics?
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As of Monday 23rd February I will have a dedicated IFA who's sole responsibilty will be Egypt. I will update you on his progress as it happens.

regards

Stuart (UK mortgage broker - Primary Mortgage Centre)