Dear All,

I am wondering if there are any Banks which would finance the up and coming properties in RAK?

I've called RAK and they said that they don't Finance those properties!

Depending on which developments.

Al Hamra is financed by Lloyds TSB and HSBC.

The easiest way to find out is always ask the developer if the project has been pre-approved by some of the banks, if yes, they will be quite eager to point you to the right direction.

If they are not pre-approved, they will generally tell you that you can't get the mortgage or that for some reason you should not do it.

PS Attached is the ad for Lloyds TSB mortgage in Al Hamra's office.

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Thanks for the info... and for the photos as well!

I will call them and let you know what they say...

the pacfic in marjan island is great because even if the banks dont give u the permission to finance the property you can directly get it financied by the developer. for example my studio has a lenghty payment plan of 15 years. YES 15 years and the interest rate is the same as any other banks in UAE. But less hassle or less tension or less to worry about hidden charges about geting financied by the bank.

if you are looking for financing go wtih the Pacific project and their 15 year payment plan.

Thanks Rudeboy for the info!