# Loan needed for one cheque Landlord



## paulsheaves (Oct 27, 2014)

Hi guys,

We have found the villa of our dreams but cannot afford the Landlords ridiculous (in our eyes anyway) request of rent being paid in one cheque only...

The villa is for 145,000aed - how can anyone afford that in one cheque?!

Our respective companies cannot help us in any way, so we are stumped. We can afford the rent if it was in 3 cheques...

Does anyone know how long it would take to get a loan of 90,000aed into my bank account? I have salary certificates and documents etc.

Also, does anyone know what the standard interest rate is? I have rang Emirates NDB but best they could do was send my request to the loans department who will ring me in 24-48 hours!

Appreciate any replies guys as this is very urgent,

Many thanks,

Paul


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## Chocoholic (Oct 29, 2012)

A few banks do rent loans for just this issue. I'd go back and try to negotiate. Trouble is, they normally ask for more in multiple cheques.


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## paulsheaves (Oct 27, 2014)

Chocoholic said:


> A few banks do rent loans for just this issue. I'd go back and try to negotiate. Trouble is, they normally ask for more in multiple cheques.


The landlord is flat out refusing to negotiate on number of cheques :-(


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## Chocoholic (Oct 29, 2012)

paulsheaves said:


> The landlord is flat out refusing to negotiate on number of cheques :-(


Personally I'd walk away and tell him to shove it then. 2 to 4 cheques is becoming the norm.


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## TallyHo (Aug 21, 2011)

Banks do offer housing loans. Speak to yours. 

While you need to do what you need to do, I'd be very reluctant to take out a huge loan from the bank. What happens if you're suddenly made redundant? I'd bite the bullet and rent a cheap apartment that takes multiple cheques and save the money to be able to rent a villa next year.


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## Froglet (May 7, 2014)

I don't have personal experience with loans, but since so many people have one, I guess it's pretty easy to get one.

Anyway, if I were you I'd walk away. The landlord knows that someone will come along and pay the amount in one cheque so there is no need for him/her to make your life easier  You would just be putting yourself in a stressful situation knowing that you have a loan and need to make monthly payments... 

Where is this 'villa' located? Is it in the Springs?


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## Gavtek (Aug 23, 2009)

Look for somewhere else. You'll soon find out that this type of landlord who sees refusal to negotiate down from his position as "doing the good business" will also see things like refusing to maintain the property and fix any problems also as "doing the good business". Expect the same principle to apply to getting your deposit back too.

I'd also be wary of employers who refuse to give you a housing allowance advance, especially if you're in a good position.


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## Hull-Heppy (Jun 21, 2014)

Wise words above.

Walk away and find a landlord that is flexible and negotiate quarterly cheques is my advice.


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## crt454 (Sep 3, 2012)

Gavtek said:


> Look for somewhere else. You'll soon find out that this type of landlord who sees refusal to negotiate down from his position as "doing the good business" will also see things like refusing to maintain the property and fix any problems also as "doing the good business". Expect the same principle to apply to getting your deposit back too.
> 
> I'd also be wary of employers who refuse to give you a housing allowance advance, especially if you're in a good position.


^^^ spot on,word of the wise.


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## BigAndyD (Apr 19, 2013)

Dream villa maybe, nightmare landlord definitely. 

This town is full of both, but it is possible to get one without the other. I'd keep looking if I was you and save yourself a world of financial pain in the near future.


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## JamesC123 (Aug 26, 2013)

HSBC jumped out of their skin to give me a personal loan.

Their rates varied depending on the length of the loan.

Just be careful you understand the type of rate quoted. The advertised rates are mostly a flat rate instead of a depreciating balance rate. Pretty dodgy way of quoting a rate in my eyes and definitely not something allowed in western countries.

For a five year loan our rate was around 9% on a depreciating balance calculation. For a year you'd probably get around 5%. There was also a 1% fee.


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