Mortgage Debt Management can circumvent banks from freezing end-of-service benefits
- June 28, 2020
- Posted by: Minhaj Mehmood
- Category: Mortgage Debt Management
Many residents and expatriates in the UAE are saddled with huge home loan debts. They often fail to read the fine print on their contract while availing the loan. This may instigate a crisis situation if you are retrenched or switch your job. In this case, your bank has the right to freeze your account. The challenge will only escalate if you plan to relocate or do not have a new job offer. Even if you aren’t currently facing this scenario, it’s always advisable to be prepared.
The best way to deal with such a situation is to get help from an expert such as FREED Financial Services. These specialists exclusively deal in resolving Mortgage Debt and have strategic ties with banks that can strengthen your case.
Why does it happen?
Whenever you leave a job in the UAE, the bank receives a notification along with your final salary, gratuity and other end-of-service benefits. Different banks respond differently to this notification. If you are left unemployed, the bank will suspend your account as a preventive measure until it gains confidence in your repayment ability. This may be detrimental to your financial planning if you intend using the money to tide over in the next few months.
How FREED can help
FREED represents Mortgage Debt borrowers to negotiate a favourable restructuring or settlement plan with your bank. Depending on your case, here are a couple of measures we can adopt to ensure non-suspension of your account:
- No matter what the circumstances, the first thing we’ll do is inform the bank about your job loss beforehand as well as of your relocation plans to strike an appropriate deal. A good credit history can be beneficial during this initial conversation
- If you plan to leave the UAE, we’ll help convert your loan account to a non-resident Mortgage. Be aware that a non-resident loan will have a slightly higher interest rate and lower Loan to value.
- If you plan to rent out the property – We’ll negotiate with the bank to restructure your Mortgage with options such as rent to cover the EMI payments for 12-24 months with a mandatory rental assignment to the bank.
- If you plan to sell the property and the market value does not cover the loan outstanding, we’ll assist in selling the property & negotiate the best possible settlement with the bank. This includes reduced repayment sum, flexible payment on the shortfall – single/multiple.
- If you have switched jobs, we’ll try to negotiate and assure the bank of your ability to repay. This will require showing your new visa and employment letter to unfreeze your account.
Get in touch today
FREED Financial Services exclusively works with Mortgage customers to help them repay their liabilities. We can help you restructure your loan term or amount and even handle the selling of your property to settle with the bank. Talk to us if are stuck in a similar situation or would want to know how we can resolve your Mortgage Debt woes.
You can call on +971 4 3691880 or write to us at [email protected] to book a free consultation session.
27 Comments
Leave a Reply
Liked our resources? Would you like to know more about how we can help you manage your Mortgage Debts?
Want to know more about the people behind these resources on Mortgage Debts?
I’m not that much of a online reader to be honest but your blogs really nice,
keep it up! I’ll go ahead and bookmark your site to come back down the road.
Cheers
These are genuinely impressive ideas in concerning blogging.
You have touched some pleasant things here.
Any way keep up wrinting.
Whats up are using WordPress for your site platform?
I’m new to the blog world but I’m trying to get started and set up
my own. Do you need any coding knowledge to make
your own blog? Any help would be really appreciated!
Hello there! Quick question that’s completely off topic.
Do you know how to make your site mobile friendly? My
website looks weird when browsing from my iphone 4. I’m trying to
find a template or plugin that might be able
to resolve this issue. If you have any suggestions, please share.
Thank you!
Excellent weblog here! Also your website loads up very fast!
What web host are you using? Can I am getting your associate hyperlink for your
host? I want my site loaded up as quickly as yours lol
Everything is very open with a clear explanation of the issues.
It was definitely informative. Your site is very helpful.
Thanks for sharing!
I absolutely love your site.. Pleasant colors & theme. Did you develop this web site
yourself? Please reply back as I’m attempting to create my own website and would love to find out
where you got this from or exactly what the theme is named.
Cheers!
I really like what you guys are usually up too.
This sort of clever work and exposure! Keep up the good works guys I’ve
added you guys to my personal blogroll.
my blog … playboy2 download
Hi, yeah this paragraph is actually nice and
I have learned lot of things from it regarding blogging.
thanks.
Here is my site … mega888 malaysia
My developer is trying to persuade me to move to .net from PHP.
I have always disliked the idea because of the expenses. But he’s tryiong none the less.
I’ve been using WordPress on several websites for about a year
and am concerned about switching to another platform.
I have heard good things about blogengine.net. Is there a way I can transfer all my wordpress content into it?
Any help would be really appreciated!
My blog post – wm casino company
Woah! I’m really enjoying the template/theme of this blog.
It’s simple, yet effective. A lot of times it’s hard to get that
“perfect balance” between user friendliness and visual appeal.
I must say you’ve done a excellent job with this. Additionally, the blog
loads super quick for me on Internet explorer.
Exceptional Blog!
My blog post :: cara id test calibet
Hello there! This article could not be written much better!
Going through this article reminds me of my previous roommate!
He always kept preaching about this. I will forward this post to him.
Fairly certain he’ll have a very good read. Many thanks for sharing!
Also visit my web-site … id test epicwin
Right here is the perfect web site for anybody who hopes to
understand this topic. You realize a whole
lot its almost hard to argue with you (not that I personally would want to…HaHa).
You certainly put a fresh spin on a subject which has been written about
for many years. Great stuff, just wonderful!
Feel free to visit my blog: download king855
I blog frequently and I really thank you for your content. Your article has truly peaked my interest.
I’m going to bookmark your website and keep checking for new details about once a week.
I opted in for your RSS feed as well.
Feel free to visit my website – ace333apk ios
Hello, i think that i saw you visited my site so i came to “return the favor”.I
am trying to find things to improve my web site!I suppose its ok to use
some of your ideas!!
I do not even know the way I ended up here, however
I thought this publish was good. I don’t
recognize who you might be but certainly you are going to
a well-known blogger in the event you are not already.
Cheers!
My web site – sky777 android download
hi!,I like your writing very much! percentage we keep up
a correspondence more about your post on AOL? I need a specialist on this
space to resolve my problem. May be that
is you! Taking a look forward to see you.
My web-site xe88 ios apk
Hey just wanted to give you a quick heads
up. The text in your content seem to be running off the screen in Safari.
I’m not sure if this is a format issue or something to
do with internet browser compatibility but I thought I’d post to let you know.
The style and design look great though! Hope you get the problem solved soon. Thanks
my webpage: love138 jackpot [918kiss-m.com]
Hello to every one, the contents present at this site are really amazing for people knowledge, well, keep up the good work fellows.
Feel free to surf to my website – game online ok388
I have been exploring for a little for any high quality articles
or weblog posts in this kind of space . Exploring in Yahoo
I at last stumbled upon this site. Studying this
information So i’m happy to express that I have a very good uncanny
feeling I discovered just what I needed. I so much certainly will make sure to don?t
put out of your mind this website and provides it a glance regularly.
my homepage – 라이즈팀
Hello, I enjoy reading through your article. I
like to write a little comment to support you.
Here is my web blog; download greatwall99 android
Hello, i believe that i noticed you visited my site thus i came to return the prefer?.I’m trying
to find issues to improve my website!I assume its
good enough to use a few of your ideas!!
my blog post – club suncity ios download
all the time i used to read smaller articles or reviews which also clear their
motive, and that is also happening with this paragraph which I am reading now.
Here is my website: live22 casino – https://918kiss-m.com,
Great info. Lucky me I discovered your website by accident (stumbleupon).
I’ve book marked it for later!
Here is my webpage … kiosk 918kiss plus
Inspiring story there. What happened after? Good luck!
Feel free to surf to my webpage; download game lionking888; 918kiss-m.com,
hello!,I love your writing very much! percentage we communicate extra approximately your article on AOL?
I require an expert in this house to solve my problem.
Maybe that’s you! Having a look ahead to look you.
Thanks for your marvelous posting! I really enjoyed reading it, you can be a great author.I will always bookmark your blog and will come back someday. I want to encourage that you continue your great job, have a nice afternoon!