Mortgages in Morocco
Morocco is one of the new and exotic destinations that has grown in popularity amongst tourists. Morocco is an ethnically diverse country with a rich culture and civilisation. Each region possesses its own traditions and lifestyles, contributing to the making of this mix of National culture. Moroccan cuisine has long been considered famous as one of the most diversified in the world. The reason is because of the interaction of Morocco with the outside world for centuries. Morocco is becoming increasingly popular among foreign buyers for investments or alternatively a second home. Capital Financial Partners work closely with the local banks in order to offer you a suitable solution for financing your property in this exciting, new, diverse country, only a short distance by boat from the well known Costa del Sol.
Apply NOW to find out how much you qualify for in Morocco.
Buying Guide
Buying a foreign property can be a daunting decision whether it is your first time or not, and so it is important that you take the time to research and plan to ensure that it is feasible, and that you are making the right investment choice.
Mortgage Guide
Mortgages at a glance:
| Maximum Loan to Value: |
70% |
| Maximum Term: |
15 years |
| Maximum Interest Only: |
None at present |
| Maximum Age on Completion: |
70 years |
| Best Rate: |
5.07% Variable |
| Mortgage Process Length: |
12 weeks |
CFP Mortgages in Morocco:
We have a number of popular
mortgages in Morocco, with our Product manager and Morocco Financial Advisor constantly in contact with the various lenders to secure new deals, and get new and better rates for our customers.
Qualification:
Qualification for a mortgage can vary from bank to bank. Generally qualification is dependant on your ability to repay your mortgage and debts at home, as well as your mortgage in Morocco. The figure used is usually expressed as a % of your combined net take home pay.
Eg. In Morocco this is 35% - 40% of your net take home pay.
However some banks are more flexible than others
Mortgage Costs:
All mortgages have associated costs, for Morocco these costs are:
Bank opening Fee: 1%
Stamp Duty: 3%
1% + 10% VAT Notary fee
Transfer Tax: 2.5%
Documentation:
When applying for a mortgage it is important that you have specific documentation to support your application and prove that you are elegible for a mortgage. The
required documentation are necessary, but may vary depending on the lender and the type of mortgage you are applying for.
Note: All facts and figures may vary depending on individual circumstances.