Off Plan Mortgage:

“Offer in Principal” that will give the client peace of mind in knowing that when his/her property is ready the mortgage will be in place.

Re-sale Mortgage: Re-sale mortgages at 70% to purchase price at a rate around 5-7% for a maximum of 25 years.

Fees from the brokers and local banks tend to be less than in the UK. 

There is no interest only period in Morocco but some lenders do offer a deferred payment option for up to 12 months.

Purchasing as Moroccan national: This is an option for the Moroccan national who lives abroad. Even as non-resident you will be able to get a 100% mortgage to purchase price.

Documentation that is required for the buying process to start.

Certified copies of applicants passports

Proof of earnings – 6 latest pay slips, renting incomes, etc

A declaration of debts – Experian report from www.experian.com sent to applicant home address

P60 / Tax return(s) Accounts (latest)

Tax Return (latest)

Purchase contract of the property

Latest 3 bank statements of your current bank account

Bank reference letter

Property survey

You will also need to obtain from you notaire a Certificat de propriete and a certified copy of the Compromis de Vente (CDV) before you can finalise your mortgage.

You WILL also need to sign for the mortgage in person in Morocco

I'm using BMCI and they have French/English staff and its not as daunting as you may think

The list of documents required is standard for all types of mortgages available and must be ORIGINALS.

Mortgage interest is an allowable expense against your rental income and reduces my overall risk.

I'd be happy to recommend the English/French speaking brokers I used again complete the contact form if you need this informaiton.