Mortgage

[redangel7861]

Anyone know of a good source with regards to obtaining mortgages in Morocco. My development (Atlas Golf) is due for completion in May/June 09 and I'm looking for finance.

Spoken to a UK rep of BMCE bank - but they are only loaning 50% of value. Upside is you have a UK rep dealing with al enquiries, hence not having to get involved with Moroccan based admin. Tempted to pay the extra (and loose slightly on the exchange rate) but have everything sorted out in the UK.

Opinions and contacts welcome.

[esmerelda]

Originally Posted by redangel7861

Anyone know of a good source with regards to obtaining mortgages in Morocco. My development (Atlas Golf) is due for completion in May/June 09 and I'm looking for finance.

Spoken to a UK rep of BMCE bank - but they are only loaning 50% of value. Upside is you have a UK rep dealing with al enquiries, hence not having to get involved with Moroccan based admin. Tempted to pay the extra (and loose slightly on the exchange rate) but have everything sorted out in the UK.

Opinions and contacts welcome.

Mortgage market in infancy in Morocco. Available through your bank eg BMCE. Usually will only loan up to 60% of value subject to all the usual proof of earnings etc. Only available when you have the titre in your pocket. Repayment mortgages only available no "interest only". deals.
Not sure if they require payment in DH or Euro...either way, with current currency situation your probably better of keeping everything in sterling & in the Uk

[howellmr]

It was continuallly advertised early in the marketing process for Saidia but does anyone know what are the realistic chances of securing a mortgage in Morocco for 70% LTV?
And if so which bank?