As the financial pressure continues to loan singapore, important documentation is confiscated and sometimes even loan guarantees are demanded from family members, the pressure has become too much for some expats. However, there is hope, there are people out there who will help but until the relationship between the expat community and the United Arab Emirates authorities improves the money lenders will always prosper.
When you take into account the cost of moving to any country, potential issues with employment, short-term bills to pay and accommodation to find, it is not difficult to understand why so many in the Indian expat community have been tempted by the criminal moneylenders. While the UAE authorities are very keen to clamp down upon the illegal moneylending they do need the co-operation of victims.
There are ways and means of digging yourself out of a financial hole without taking on more potential problems and debt via moneylenders. There are various UAE government departments specifically assigned to helping those struggling financially and they are more than happy to advise you and help you.
Real estate investments are very lucrative and offer a variety of other benefits such as tax deductibles and asset appreciation. However, it is beyond the financial means of most real estate investors to pay the cost of their property up front. Such investors have to obtain a home loan from private lenders or financial institutions to bear the cost of their new home.
It is very common for real estate investors to procure finance in a range of eighty to hundred percent of the property value. The homeowner is required to make monthly payments to the financial company for an agreed period.
Private moneylenders or ‘hard’ moneylenders are generally third party lenders that provide the necessary funds to buy or renovate your home. In exchange, the homeowner agrees to pay a certain percentage of the profits earned after selling a property after renovation. This form of lending is mutually beneficial to both parties. It guarantees lenders better returns for their money, as the rate of interest is quite high.