John Charcol offers mortgage finance for Dubai properties

The relationship now means that UK borrowers can arrange a mortgage in the local currency, with processing in the UK by Newcastle Building Society. The market in Dubai is relatively new with a recent change in property laws which now allow non-residents to buy property. The product is based on an underlying rate of EIBOR, currently 5.3%, plus 3.55%. There are two versions available, one with a 1.5% discount for three months and one with a 1% discount for six months. Maximum loan to value is 60% for completed properties, 70% for those under construction, and there is an early repayment c...