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General property market talk

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Old 20-12-07, 01:40 AM   #1 (permalink)
sherymia
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Join Date: Dec 2007
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mortgage advice

Just a note to say "hello!". I've read what I've seen and am looking forward to being part of this forum. I just like to know on how to avoid foreclosures, tips on the best mortgages available in the market and the best home I can have for my family
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Old 20-12-07, 10:42 AM   #2 (permalink)
camel
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Re: mortgage advice

The only way to avoid is to pay up. Its interesting that you have not even taken out a mortgage and you are thinking of forclosure !!!!!!!!!!.

Not much is availible in terms of mortgage products. Its straight repayment mortgage, maximum 70% LTV, as per Moroccan law, as a non resident you are only allowed one mortgage in your name. Lot of paper work is required to deal with banks absurd requirements.

Other information such as opening cost etc, have to be teased out of the Banks and if you ask too many probing questions, I get the impression that the banks dont like it and they start ignoring you.

I have spoken to various Banks. They have an attitude that we are doing you a favour not only buy lending you, also letting you buy in Morocco.

If you can avoid a moroccan mortgage do so as atleast youwill not be paying VAT on the interest rates for the life of your mortgage.
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