Mortgage queries about purchasing flat abroad, plz see below, thanks:)?
I’m looking to purchase a property in Dubai, (Studio flat), majority of the developments do a Payment Plans (for example)
A:
(3 Years)
Booking £ 700
Within 15 days from booking 10%
Within 60 days from booking 10%
36 Monthly 1.944%
On Completion 10%
Payment Plan B:
(5 Years)
Booking £700
Within 15 days from booking 10%
Within 60 days from booking 10%
57 Monthly 1.4035%
(60-70k prop price)
I’ve never had a mortgage before and am looking for some advise,
1 - would it be best to get a mortgage in the Uk for this?, or over there?
2 - what mortgage would be best to get as i intend to let the flat out via a letting agent, (buy to let mortgage I assume?)
If I got a mortgage out would they give me the entire amount so I can do as I wish,or would they release the money as and when payment is needed as per the payment structure above. I only have around 5% to put down as deposit, would this matter?, or be a good ideal to get a small loan to put bigger deposit?
Passive Income
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Tagged with: Dubai • Letting Agent • Payment Structure
Filed under: flat mortgage










































