mortgages: which banks are lending to expats in saudi
Apr 19th 2013, 9:47 am
#1
Just Joined
Thread Starter
Joined: Feb 2013
Posts: 5
mortgages: which banks are lending to expats in saudi
We are unsure whether
1. to buy (a slightly smaller than we would like) place in the UK now ( we have 20% deposit). Which banks would lend to us right now?) or
2. just save more deposit for the next couple of years, go back to the UK , rent for a while until we find jobs (
) and then hope to secure a mortgage?
any help appreciated.
1. to buy (a slightly smaller than we would like) place in the UK now ( we have 20% deposit). Which banks would lend to us right now?) or
2. just save more deposit for the next couple of years, go back to the UK , rent for a while until we find jobs (
) and then hope to secure a mortgage?any help appreciated.
Apr 19th 2013, 10:08 am
#2
BE Enthusiast
Joined: Jan 2010
Posts: 605
Re: mortgages: which banks are lending to expats in saudi
Why buy now. House prices are not rising.
Apr 19th 2013, 10:10 am
#3
Shark Fisherman
Joined: Feb 2012
Location: Doha
Posts: 4,568
Re: mortgages: which banks are lending to expats in saudi
We are unsure whether
1. to buy (a slightly smaller than we would like) place in the UK now ( we have 20% deposit). Which banks would lend to us right now?) or
2. just save more deposit for the next couple of years, go back to the UK , rent for a while until we find jobs () and then hope to secure a mortgage?
any help appreciated.
1. to buy (a slightly smaller than we would like) place in the UK now ( we have 20% deposit). Which banks would lend to us right now?) or
2. just save more deposit for the next couple of years, go back to the UK , rent for a while until we find jobs (
) and then hope to secure a mortgage?any help appreciated.
Apr 19th 2013, 10:42 am
#4
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: mortgages: which banks are lending to expats in saudi
I think no banks in KSA will give you a mortgage. they might give you a personal loan but hardly enought to take out a mortgage. Some insist on having a Saudi guarantor. Don't go there.
Apr 19th 2013, 11:10 am
#5
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: mortgages: which banks are lending to expats in saudi
If buying in the UK, you need a UK lender. A number will lend to expats who are working for recognised companies, but you would need at least a 20% deposit + costs, if not more to get a half way decent deal.
Note that if the underwriters have even an inkling that you are planning on leaving your job you can forget getting a mortgage. If you are intending to let the property, you'll have to get a buy-to-let mortgage needing a deposit of at least 25%, although this may actually be your only option if you are not living in the UK.
I have mortgage broker contacts in the UK.
Note that if the underwriters have even an inkling that you are planning on leaving your job you can forget getting a mortgage. If you are intending to let the property, you'll have to get a buy-to-let mortgage needing a deposit of at least 25%, although this may actually be your only option if you are not living in the UK.
I have mortgage broker contacts in the UK.
