DUBAI GETS IN ON FINANCE OFFERS
The property market in Dubai is joining in with the ‘all you can handle finance options’ and banks are competing to offer the best deals. With more and more people looking to purchase property in Dubai, the country has certainly done its research and found that most people, especially foreigners who are not familiar with the country, easily and willingly get themselves into debt.
A quick look at how the UK property market operates is enough to give Dubai plenty of ideas as more and more people are diving in to get mortgages. It does not matter how much the prices rise by as people want to get onto the property ladder and mortgage lenders take full advantage of this. However, Dubai doesn’t want to get finance from there, they get it from elsewhere as it is usually cheaper. People who are moving to Dubai should really get advice from a broker beforehand as otherwise they could end up being conned out of a lot of money. So, ensure that if you do want to invest in property over there, that you get a reasonable rate for any loan that you agree to.
Moving abroad can always be an adventure but it will not be much of one if you get stuck with a high mortgage!
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