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HSBC to cut UAE mortgage rates
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 24 June 2009
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Results 1 to 6 of 6
Posted on Saturday, 25 July 2009
HSBC interest rate up & down like a yoyo
Posted by SNY at 13:26 UAE time
Great news! However last summer we all came back from summer vacation to find HSBC had put our interest rates down 1% and then put them back up 1.25% so we are now back to square one pretty much with a drop of 1% again!
We just want interest only mortgages available here as well like Europe with realistic interest rates at 4% everyone would like to buy but the banks have got it all wrong here i'm afraid - its down to the government to change and offer more competitive mortgages.
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Posted on Tuesday, 30 June 2009
Lesson for Tamweel
Posted by Nacheez at 14:47 UAE time
I commend HSBC for making this move and I hope this will contiue in the same direction and will be followed by others. I have financed my house through Tamweel and still pay a hefty 8% odd.
I would have liked to pursue the HSBC Amanah option but I don't think the report is correct about rates being adjusted to three months EIBOR rate (of 2.45 %). I am sure the end finance cost would still be in the region of 7.5%
Perhaps HSBC can clarify
Regards
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Posted on Thursday, 25 June 2009
Why its not a big deal
Posted by ben at 05:43 UAE time
Two points most people miss out on\
a) While the LTV and rates are down, the requirements are as stringient as ever given the increase in defaults HSBC and other insitutions are seeing for their credit cards and auto finance. Its one thing not to pay your Visa, its another when the bank is left holding a multi million dirham property in a down market
b)A lot of the people who purchased are punters- They don't want to have a mortgage(which is quite expensive to other parts of the world btw) and deal with that nonsense. They want to flip-plain and simple. Bringing a mortgage into the equation only increases their cost of selling.
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Posted on Wednesday, 24 June 2009
To Omar & Shakir
Posted by Moe at 16:10 UAE time
Guys, stop jumping on every report giving your shinny overoptimistic points of view, that is not fooling anyone, you know what, am still not buying a property here in Dubai this year, not before i sell the Three i have already, which i cant sell for 75% of the purchase price . Cheers guys and Goodluck
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Wah Omar
Posted by raja at 15:21 UAE time
Omar you are great!
Geriant, Omar taken over your positin of commenting on the articles first.
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This shows the confidence in Dubai
Posted by Omar at 14:03 UAE time
This clearly shows how the Dubai market is important to HSBC and how the confidence is around. The government made a great job in absorbing the shocks of the crisis and here the results are!
Unfortunately, this will result in higher prices for real estate and higher inflation all over and of course awful traffic!
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