Sales
Villas, Apartments and Property for Sale in Morocco.
Moroccan Restaurants
Ultimate guide to Restaurants in Marrakech, Morocco.
Furniture Packages
Furniture Packs in Morocco, for investors and home-owners.
Friday 25 July | 04:01
Morocco Mortgages
Nearly all Moroccan banks offer foreigners a mortgage to purchase a residential or a buy-to-let property in Morocco. It is a pretty straight forward process in and in many ways very similar to how British and European banks operate. The main aim of the bank is to ensure that you have sufficient income to cover the cost of a Morocco Mortgage. Which means that they will ask you for payslips and other proof of income. You do not need to be a resident in Morocco in order to get a mortgage and they will not carry out any credit checks on you. Most banks will offer a Moroccan Mortgage of no more than 70% of the value of your property. Interest rates for Mortgages in Morocco tend to be higher than mortgages in the UK. For example at the start of 2008 banks were charging 6% for a variable Mortgage in Morocco.