mortgages in egypt - Page 4

Peter Mitry · #31 10-12-2007, 09:57 AM

No matter what the brochures say there are no mortgages as yet; I am waiting for just one single buyer to show me a confirmed mortgage offer from an Egyptian bank. I am sure that we will all be delighted.
Don't misunderstand me, EVERYONE wants it to happen but NO ONE wants to be lulled into a false sense of security, being told their mortgage is secure when in reality it is not.

awahee123 · #32 10-12-2007, 10:01 AM

Hello Peter,
I think it may be El Riad that are offring the above, it does state it on the lotus breeze website.
I am still also looking for info regarding mortgages ,however nothing yet im afraid.

propertastic · #33 10-12-2007, 10:57 PM

Did anyone see this in the FT today?:

FT.com / Reports - Mortgages: Meeting the housing shortfall

awahee123 · #34 16-12-2007, 01:01 AM

There are so many articles about mortgages in Egypt but a lot of them seem to contradict one another,some state new rules will be in place by the end of this year then mortgages will be available, some suggest mortgages are readily available.
I think in this case seeing is believing.

Peter Mitry · #35 16-12-2007, 01:09 AM

I have yet to hear from one single person who has been granted a mortgage from an Egyptian bank and can show the offer letter in writing. It will be a great day when it happens! It's a bit sad don't you think? ********* and me seem to be the only people sitting in front of a computer at this time on a Sunday morning!! I stayed up to watch the X Factor live final - thats my excuse and how sad is that!

awahee123 · #36 17-12-2007, 01:37 AM

LOL It wasn't me Peter.

I do tend to be on the forum at silly times.
I think there are by the sounds of it Mortgages available for Egyptians,however foreign investors may have to wait a while.

dave99 · #37 17-12-2007, 09:22 PM

Quote:

Originally Posted by Peter Mitry

I have yet to hear from one single person who has been granted a mortgage from an Egyptian bank and can show the offer letter in writing. It will be a great day when it happens! It's a bit sad don't you think? ********* and me seem to be the only people sitting in front of a computer at this time on a Sunday morning!! I stayed up to watch the X Factor live final - thats my excuse and how sad is that!

It is a fact - NO mortgages for non-Egyptians, confrmed on behalf on the whoe banking system by TWO banks in Hurghada - YET.

Also anyone even consideing this option for financing a property has to be aware of all of the requirements, such full registration, which means it cannot be used for buying off-plan until the property is almost complete.

..

wemyss1960 · #38 25-09-2008, 08:34 PM

Quote:

Originally Posted by MoroccanMortgages

Dear All,

We are meeting with several banks this week in Egypt so that we will be in a position to be able to offer Mortgages in the region, we are working with several of the major developers also to be able to broker great deals.

I will post the results as soon as possible.

Jeff Scott
Worldwide Mortgage Alliance

still waiting!!!!!!!

wemyss1960 · #39 25-09-2008, 08:37 PM

Quote:

Originally Posted by MoroccanMortgages

Dear All,

We are meeting with several banks this week in Egypt so that we will be in a position to be able to offer Mortgages in the region, we are working with several of the major developers also to be able to broker great deals.

I will post the results as soon as possible.

Jeff Scott
Worldwide Mortgage Alliance

sorry,forgot to mention this post was made 16th sep 2007

wemyss1960 · #40 25-09-2008, 08:58 PM

Quote:

Originally Posted by Peter Mitry

I have looked at the Lotus Breeze website and it is registered to No More Hotels Ltd, a London based company started by ex Worldwide Destinations staff (Desert Pearl, Sunset Pearl, Coral Pearl etc). No More Hotels are marketing Lotus Breeze as their own and yet if you check the web many agents are selling it, including mine!
WWD were offering mortgages through Egyptian Mortgage Alliance, a broker based in Spain who are trying to establish mortgages through Egyptian banks. However, to the best of my knowledge none have yet been completed. The Lotus Breeze website contains an ad for Egyptian Mortgage Alliance.

what ever happened to Egyptian Mortgage Alliance?

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