3k down

[steviego1]

hi guys,
ive only got 3k deposit to put down on a place in egypt. i know its not a lot,but i was hoping to mortgage the outstanding balance, is there any developments or developers that will be able to help me on this matter? this property will be used as buy to let investment. i know its very unlikley,but any help would be appreciated.


thank you . stevie.

 

[propertastic]

The situation with mortgages in Egypt is still unclear. There are a lot of rumours, but no one has ever actually got one yet.

But, even the most optimistic rumours are saying that the deal with be 65%LTV, so you're still not going to be able to get an apartment with only GBP3000 in cash.

Sorry.

 

[DC]

3k down, mmm. Maybe, we had an apartment studio at 12k, 3k down would require a 75% mortgage, unless it was undervalued. Let me ask someone.

 

[queenie40something]

Hi Stevie - did you manage to find a property? Would welcome an update from you.

Regards
Alison