# Canadian Expat Moving to Abu Dhabi



## sv7 (Oct 18, 2013)

Hi there,

Wondering if there are any similar expats out there who have moved to UAE and had a mortgage back in Canada. I am currently considering the move next year to Abu Dhabi and have considered a few options:

1) Continue paying monthly mortgage while wiring money over back into Canada on a regular basis 

2) Take out loan in UAE to pay off mortgage in Canada and pay off UAE loan in USD. I understand there are policies and procedures of whether or not I can get a loan first, but putting that aside, what I am trying to work out is the FX effects on paying off my mtg in Canada with a UAE Loan. 

3) Sell Condo which is probably not my preference as real estate is still good investment/savings strategy IMO. 

Any opinions or advice would help!

Thanks!


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## dxbexpatauh (Oct 19, 2013)

I suggest better avoid another loan. Save out of your income as much as you can, try to clear off present loan.


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## VWCefiro (Jan 27, 2013)

dxbexpatauh said:


> I suggest better avoid another loan. Save out of your income as much as you can, try to clear off present loan.


I agree on this one also most banks here hand out some real crappy conversion rates been though it so many times


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## sv7 (Oct 18, 2013)

OK..so we should keep the mortgage here and wire payments back to Canada? Again, I would prefer not to sell my property in Canada as there's still potential in real estate market here.


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