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The best time to get a second mortgage

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Here are some cases where a second mortgage is a favourable option A house is an asset as it increases in value and builds equity over time. Homeowners can take advantage of the asset and make some extra money. A second mortgage is an option available for existing mortgage loan holders to get an extra amount to fulfill financial requirements. The second mortgage is nothing but another loan on a house which is already under […]

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Homefront: ‘Is it safe to pay my rent to the landlord’s power of attorney?’

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I need to renew my current lease but the owner’s representative insists I make the cheque payable to the Power of Attorney (POA) and not the owner. I am very uncomfortable with this. In the past, I have seen you write in your column that you should only make a cheque payable to the owner, as there can be many shady things the owner/representative has already done. This might include not paying service fees, not […]

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New communities in Dubai will see more rental demand

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Compared to two years ago, apartment rents are more than 20 per cent cheaper. Residential rents in Dubai across categories continued to decline on the back of softer demand and pressure caused by upcoming supply, real estate surveys show. Analysts at Kamco Research said the highest declines in second quarter was witnessed in the affordable housing category. Compared to two years ago, apartment rents are more than 20 per cent cheaper, they said. Rents of […]

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‘It’s the best year for off-plan’

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Dubai is lucrative to foreign investors, and developers are helping make this happen When investing in Dubai real estate, the diversity of choices remains an important attraction. “Whether you want to stay in a golf villa or next to a clubhouse, live by the beach, seafront, island living or canal living, or looking for horse riding nearby or need to live close to theme parks, the beauty of this city is that it has everything […]

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In Dubai, property buyers learn to live without mortgages as developers gung ho on monthly instalments

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Dubai: Finding it difficult to get a mortgage? That doesn’t seem to be bothering property owners in Dubai all that much. The latest data from the Dubai Land Department bear this out — in the first six months, the share of property purchases involving a mortgage comes to 62 per cent. That still looks good, but not when you compare this with what it was last year. In the first six months of 2018, mortgage-backed […]

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