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Bank loans and housing

Bank loans and housing

Old Apr 7th 2008, 12:06 pm
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Default Bank loans and housing

Hi All,

I am relocating to AD next week and wanted some advice on bank loans.

Myself and my partner both have packages which include housing allowance, but these are either being paid monthly or quarterly.

I am led to believe that you have to pay 1 year's rent in advance and I am wondering whether the bank will give us a loan for this, bearing in mind we are completely new to the country? Any advice would be welcome!

Also I have been told that you have to pay 5% of your annual rent comission to the broker finding your place for you - Is this correct?

Many thanks

Michelle
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Old Apr 7th 2008, 12:19 pm
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Default Re: Bank loans and housing

Michelle

Banks will loan you the money for rent but you will need your company to confirm your salary.

Yes brokers charge 5% for doing nothing, but beware they are very unreliable
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Old Apr 7th 2008, 12:20 pm
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Default Re: Bank loans and housing

Originally Posted by Michelle2 View Post
Hi All,

I am relocating to AD next week and wanted some advice on bank loans.

Myself and my partner both have packages which include housing allowance, but these are either being paid monthly or quarterly.

I am led to believe that you have to pay 1 year's rent in advance and I am wondering whether the bank will give us a loan for this, bearing in mind we are completely new to the country? Any advice would be welcome!

Also I have been told that you have to pay 5% of your annual rent comission to the broker finding your place for you - Is this correct?

Many thanks

Michelle
Hi Michelle,

Most places over here want a years rent in one cheque (two if your lucky). My company also pay my housing allowance monthly but I asked them for a one off cheque. Thats the way things work out here!
I had to pay 5% as well but luckily the company paid for it as well
You don't really want to get a loan unless you have to! Your tied to AD then!

Look forward to meeting you and your partner on the next AD night out.
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Old Apr 8th 2008, 5:07 am
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Default Re: Bank loans and housing

My company also paid for a year up front. Somehow I managed to get them to pay the fees and the deposit. Odd way of doing things, but you get used to life in the ME and it eccentricities!
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Old Apr 8th 2008, 9:21 am
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Default Re: Bank loans and housing

Thanks for all of your help!!!

I appreciate it!!

Michelle
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