Morocco Mortgages

Morocco is one of the most vibrant and exciting places to buy a home; as such there has been growing interest in the Morocco mortgages market and it is set to get increase further in the next few years. Prospective UK and overseas property owners need to ensure that they make the right choices when it comes to arranging their Morocco mortgages to suit their individual needs.

As an overseas buyer, it is most important to study the Morocco mortgage market. Here are some of the basic stipulations for arranging Morocco mortgages:

Max Loan amount is 70% loan to value
Mortgage term should not exceed 15 years
Max Age for those applying for a Morocco mortgage is 65
Repay method is either capital and interest mortgages
Currency for payments is Dirhams
In some cases, a deposit of six months mortgage payments may be required to be held in a Moroccan bank account
Morocco mortgage rates are revised annually, fixed for 5 years or fixed for the duration of the mortgage

Using a specilalist overseas mortgage provider can be very beneficial, for such things as finding competitive rates for Morocco mortgages as well as guiding you through the whole process, organising solicitors and advising on local issue such as language learning classes and accessing the healthcare system.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.