Morocco Properties Ltd is able to assist in obtaining a mortgage for your property in Morocco.
Depending upon your individual circumstances and requirements Morocco Properties Ltd will arrange for mortgage proposals through one or a number of sources.
For new build homes most International developers will arrange for mortgages on the properties of up to 60%. These mortgages do not have the same criteria and constraints as those in the UK.
Alternatively we are able to arrange the re-mortgages of your UK property to finance the stage payments of new developments and part or all of the value of your Moroccan home. Some International Banks including BMCE Bank and Societe Generale both operate in Morocco and are prepared to provide mortgages for properties and, depending on your individual requirements, consideration should be given to this approach.
Funding
When you buy a property in Morocco, you will know the price of the property in Euros but you will not know the actual cost in Sterling until you buy all of the currency to pay for it. This means that the property could either cost you more than you had planned (if the Euro strengthens) or the property could become cheaper (if Sterling strengthens). On the basis that you are buying a property and not speculating on the currency markets, it is worth fixing the exchange rate for all of your future stage payments to the agent/developer.
Foreign Exchange Service
In association with TTT Moneycorp Ltd, Morocco Properties Ltd. provide a comprehensive Foreign Exchange service which includes:
- Achieving a better exchange rate than you would receive at a high street bank - it is not uncommon to see savings of up to 4 cents per euro or approximately £4,300 on a £150,000 property.
- Reduced or zero banking charges when clients transfer their money abroad.
- Provide clients with a faster and seamless transfer of funds than is available from banks. Funds are usually transferred within the same day.
- The ability to fix exchange rates for future payment and delivery. For example, if the client approves the exchange rate quoted, then they can fix the rate on day 1 for payment and delivery up to 2 years in the future. This is very popular with clients intending to buy lengthy new build properties.
- The allocation of a personal dealer to every client, enabling them to build rapport and trust which only the consistency of one point of call brings.
- Access to experienced foreign exchange professionals.
- Facility to buy or sell currency over the telephone on a 24 hour, 7 day a week basis rather than being limited to trading between UK banks restricted opening hours.