EY - Rent to Buy Scheme

[Driver of Buses]

The EY website mentions their Rent to Buy scheme, its interest rates and scheme advantages but doesn't mention specifics on how it works.

Does anyone know first hand on how the scheme works and specifically how much the company contributes/pays towards the rent?

Thanks

[Insh Allah]

Company pays you, 100% of your housing allowance, AED120K for skippers per annum.

The ramainder is placed by YOU!! only applicable in AUH, you can't buy in DXB with the specific Rent to Buy.

Only approved Projects are approved by the participating banks..

Hope this helps..

[fractional]

Insh Allah,
Prices here in Dubai or Jabel Ali areas are one thing and very well published. For comparison, what prices are we talking about down the road and location for a Villa or Apartment with 4 rooms? What's the down payment in % of the total amount and peripheral costs? I know some guys in EK who are very happy with their deals.
Tks.

[Driver of Buses]

Thanks Insh Allah for the information.

Do you know where I can get a list of approved projects ? In particular I am looking for 4 bed house/villa.

[WERNERTHEGREAT]

4 bedroom villa will cost around 1.8 million to 2.5 million aed in abu dhabi.
Rent to buy is a shame as the amount that the company provides is not even close enough to pay half of your mortgage.

New apartments under rent to by starting at 2.3 to 2.6 million. The only way the rent to buy Scam is viable is if the housing allowance was raised to 200.000 aed a year.

So Dream on new joiners as hogan has vowed not to spend a single more dirham so he can make his 2010 budget bonus:ok: