Bridging Loan

Old Apr 7th 2008, 6:56 pm
  #1  
Its all good
Thread Starter
 
Fairydust's Avatar
 
Joined: Oct 2004
Location: Dubai
Posts: 7,650
Fairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond repute
Default Bridging Loan

Is there such a thing in UAE or does anyone know best way to go about it for about 6 weeks?
Fairydust is offline  
Old Apr 8th 2008, 2:08 am
  #2  
BE Forum Addict
 
IndieG's Avatar
 
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
IndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond repute
Default Re: Bridging Loan

Originally Posted by Fairydust View Post
Is there such a thing in UAE or does anyone know best way to go about it for about 6 weeks?
What is the amount? There is no such thing as a bridging loan facility for individuals in the UAE (stupid, I know)- what the bank will give you is a personal against a salary transfer (whom do you bank with - I could help you with this!). Negotiate on the loan set up fees and make sure you tell them to waive your pre-payment fees.

Alternatively if the amount is small (250,000), you could ask for an overdraft facility - typically 2.5-3 times monthly gross (only fixed allowances counted).

However, if you are a priority customer/private banking customer then the good banks ( !) are more than willing to accommodate such requests.

Last edited by IndieG; Apr 8th 2008 at 2:10 am.
IndieG is offline  
Old Apr 8th 2008, 12:02 pm
  #3  
Its all good
Thread Starter
 
Fairydust's Avatar
 
Joined: Oct 2004
Location: Dubai
Posts: 7,650
Fairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond repute
Default Re: Bridging Loan

Thanks IG, looking at about 800k for as I said about 6 weeks. Currently have a/cs with HSBC. Had heard that it was almost impossible to get a loan over such a short period but thought I would ask to see if anyone knew.
Fairydust is offline  
Old Apr 8th 2008, 2:02 pm
  #4  
BE Forum Addict
 
IndieG's Avatar
 
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
IndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond reputeIndieG has a reputation beyond repute
Default Re: Bridging Loan

Originally Posted by Fairydust View Post
Thanks IG, looking at about 800k for as I said about 6 weeks. Currently have a/cs with HSBC. Had heard that it was almost impossible to get a loan over such a short period but thought I would ask to see if anyone knew.
When do you need it? Is it possible for you to open an a/c at another bank and obtain a salary transfer letter?

Not really impossible......get the employer to write - requesting them to 'assist' him - they might do it for EK

Last edited by IndieG; Apr 8th 2008 at 2:05 pm.
IndieG is offline  
Old Apr 9th 2008, 11:16 am
  #5  
Its all good
Thread Starter
 
Fairydust's Avatar
 
Joined: Oct 2004
Location: Dubai
Posts: 7,650
Fairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond reputeFairydust has a reputation beyond repute
Default Re: Bridging Loan

Thanks for the info. Decided to find another way round it.
Fairydust is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.