D
DaveO
New Member
Hello All
As a newbie looking to buy at the lower end of the scale in the next six months or so, I wonder if anyone could help with a few basic questions?
Firstly, with set payment plans (for the likes of the Rainbow Towers in Ajman) how does the developer determine the ability of the individual to afford the payments - in a similar way to a bank with a mortgage application? Do people (with enough of a deposit of course) ever do this based solely on their earnings and without recourse to a loan?
Secondly, with regard to mortgages taken out in the UAE, what generally is the maximum amount loaned and the maximum the percentage of your earnings that can be used for repayments? Also is this likely to change in the near future?
Many thanks in advance for any replies,
All the best,
DaveO.
As a newbie looking to buy at the lower end of the scale in the next six months or so, I wonder if anyone could help with a few basic questions?
Firstly, with set payment plans (for the likes of the Rainbow Towers in Ajman) how does the developer determine the ability of the individual to afford the payments - in a similar way to a bank with a mortgage application? Do people (with enough of a deposit of course) ever do this based solely on their earnings and without recourse to a loan?
Secondly, with regard to mortgages taken out in the UAE, what generally is the maximum amount loaned and the maximum the percentage of your earnings that can be used for repayments? Also is this likely to change in the near future?
Many thanks in advance for any replies,
All the best,
DaveO.
