Madam Medusa

...ok, a couple of girls at work are looking to get a personal loan in order to pay their rent...as we are a small company, they seem to be having real difficulty with this...

they have been told that all the banks will only issue loans to people whose company are listed with that bank, and a few of the banks will only accept companies to list with them who have more than 50 employees...

does anyone know of a bank who will accept smaller-sized companies to list with them (employee head count of less than 30) in order for employees to get personal/housing loans...?

any help would be gratefully received...how do people go about getting housing loans in general, sounds like a sodding nightmare...

thanks
MM, xx

Bungdit Din

dumb question, why can't the company loan them the money? how do the other employees pay their rent?

where are they looking to rent/what's their budget? Lots of apartments offering 12 cheques now.

Madam Medusa

other employees are married, these are two young girls on their own...do many companies now really give loans...?

MM, xx

Meow

Have they tried RAK Bank? They are looking for business.

Otherwise, I suggest they find an apartment with a LL who will accept 12 cheques. I am told that some are doing that now.
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Madam Medusa

thanks, will suggest RAK bank to them...

they aren't living together, and one is already in an apartment, but was living with boyfriend and has now split up...she obviously wants to stay in the same place, not sure whether she's asked about 12 cheques...

whatever, this does seem like a total pain in the arse for something you'd think was quite simple...

MM, xx

typical

I know a few international companies do give housing loans, mine does.

We also have huge problems getting credit cards from many banks, for the same reason as above: we're not on the bank's list.

Bungdit Din

LOADS of places offering 12 cheques now, just look on dubizzle.

but why won't the company just loan them the money and deduct it from their salary? Can't afford to? it's not like they want to rent villas costing 200k+ a year.

Madam Medusa

as i said, one of them doesn't want to move apartment if she can help it...

don't know why the company doesn't do a loan, i am pretty sure not every company does, i don't think it's that unusual...

anyway, what if they wanted it for a car loan...same applies, seems mad that just cos you work for a smaller company you can't get a loan...

oh well...
MM, xx

kittycat1

my companies policy has recently changed- they won't do loans unless you've been here and employed by them for 2 years. I got a strop on as I'd been informed they would so managed to get an advance for my rent, I think with so many people doing a bunk companies have reviewed their policies.

Ethos83

That's the reality of life in Dubai these days.

The girls should not even contemplate getting any type of loan through a bank out here. If the company can't advance, say, three months' housing allowance, the one choice is to share a flat for a few months to save up the deposit to get their own place.

Loads of apartments are now offering 3-4-6-12 cheques. Find one of these.

rowell

Do people really think they can get away with asking for 2 or 3 cheques which I assume is the reason for this post