The economic fallout of COVID-19 has put many in the UAE in an unpleasant situation. People with stable incomes and lifestyles in pre-COVID times now must adapt to living on a budget. If you have a mo...
COVID-19 has put many in an unexpected spot. Many people with otherwise respectable financial records now have to face the uncomfortable reality of missed mortgage payments and legal actions by their ...
According to a study by Oxford Economics, the COVID-19 pandemic is likely to force 10% of UAE’s expat residences to leave the country. While this will be a hard time for everyone, those with a mortgag...
Imagine a borrower who had decent earnings and took on a monthly mortgage commitment based on their salary. Suddenly, this person lost their job or had to take a pay cut due to COVID-19. This person i...
Most people take a mortgage loan with the intent of paying it off fully and taking possession of their property. However, there are scenarios when the repayment of a mortgage loan becomes difficult. F...
The past few months have been the best time for those looking to refinance their mortgages. The UAE’s Central Bank has taken a lot of measures to help banks deal with the economic shock from COVID-19....
The impact of COVID-19 on the UAE’s economy is real. According to Oxford Economics’ estimates, UAE can lose 900,000 jobs and see 10% of its residents leave the country. Many of those who are fortunate...
[vc_row][vc_column][vc_column_text]The year 2020 was financially difficult for a lot of people due to job losses and pay cuts. According to the World Bank, UAE’s economy had contracted by 6.3% in 2020...
The debt trap is a reality. It was evident in a recent Standard Chartered survey published in UAE’s leading newspaper in December 2020. [MK1] In the survey, millennials (aged 25-44) were asked what th...
Let’s face it – with the rising inflation and cost of living, it’s not unusual to find oneself in a debt trap. Unforeseen circumstances like a salary cuts, job loss, delayed receivables, can make it e...