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Tighter lending conditions limit access to property market

United Arab Emirates: Sunday, December 07 - 2008 @ 10:53

Amlak, the UAE’s largest home lender, recently announced that is has suspended all loan applications – a move which underscores the extent to which the global financial crisis has affected the flow of liquidity in the region.

Although loans are increasingly more difficult to obtain for some consumers, buyers with enough capital to purchase property will be able to find some attractive deals as demand in the local real estate market slows down.

“Serious buyers who are able to secure capital are still looking to buy, as prices in numerous developments are starting to level off and there are definitely some attractive bargains to be had,” said Chris Dommett, CEO of John Charcol Dubai.

For those requiring property loans to purchase their ideal home, many are now seeking the advice of a mortgage advisor to guide them through an increasingly complex lending process and find out how they can best present their case to the banks.

“Because home loans are harder to come by these days, it is important that potential buyers evaluate all of their financing options. This is where a professional mortgage broker such as John Charcol Dubai can be of great assistance,” said Dommett.

John Charcol Dubai takes the complexity out of the mortgage selection process by offering independent mortgage advice and quality brokerage services that provide speed and transparency every step of the way.

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Sunday, December 7- 2008 @ 10:53 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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