Hi all,
I've just been to El Gouna where I have an account with HSBC.
I was told that they presently do not offer mortgages to non Egyptians.
They were about to offer this but had to review the whole process due to the sub-prime issues experienced in the US and Europe.
Basically I think they want to introduce mortgages to non Egyptians but are just sorting out the details. Hopefully it will happen soon .....

Hello

Please can anyone tell me the current situation regarding mortgages for Sahl Hasheesh, I am purchasing two apartments at Sunset Pearl which will complete in January and I really need to get a mortgage organised. Many Thanks

Hi Chrissie,

If you are purchasing through Pyramisa group, they offer mortgages up to 5 years themselves:
Option 3 :
10% Reservation deposit (refundable within 28 days)
40% Within one month upon signing the PPC
50% over 5 years from signing PPC in equal quarterly installments at 5% fixed flat interest (approx 8.4% APR).

__________________
Violeta Telich
Tel: 002 010 004 1887
sales@horizonredsea.com

Thank you Violeta

I have spoken to Pyramisa and they have been very helpful, although my terms would be slightly different, I have already paid 40% through WWD, Pyramisa will let me have a mortgage but I would have to pay 20% up front and the remainder over 5 years, unfortunately due to the credit crunch I am finding it very difficult to raise the 20% for both apartments!! Hopefully there will be a way through this, I know if I could sell one of the apartments before completion I would be able to complete on the other one!!

Thanks again for your help