Best UAE Bank?

[Mr R Sole]

Going slightly off topic...

Needing a bit of advice from those UAE expats out there.

I along with what seems to be every man and his dog, am considering in investing in property in Dubai.

With regards to Banks, I know there are a few to choose from but I was wondering if there were any recommendations from anyone or on the other hand any nasty experiences with any UAE Bank.

Is there more red tape in the UAE than in the UK or can accounts be opened easily?

Thanks!

[Payscale]

The banks have devided the real estate sector up between them.

HSBC will finance Nakheel but not Damac. Mashreq finances Damac but not others and so on.

Find your property. Then the mortgage lender....

Wanna buy an apartment with seaview 20% under market value, by any chance? :D

[Mr R Sole]

Well I am trying to stay out of the mortgage trap since it is a new build and the developers are needing the money in 'manageable' installments over 3 three years. I will have the majority of the finances saved from another source and the remainder will be sourced from within the UK. I am after a decent bank where I can set up a current account and any rental income can be transferred there. Ideally one where credit card use in the UK won't be too much of a hassle. If I take any money made into the UK I will get stung for tax so I am trying to keep it in the UAE but with the ability of still being able to spend it in the UK (eg credit card)!

Thought you would be able to find someone for your apartment though. Don't think my finances can stretch to a seaside apartment. I am just a F/O with my present company!

[daisydaze]

hi


check your pm's

cheers daisy