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Canadian Expat Moving to Abu Dhabi

3317 Views 3 Replies 3 Participants Last post by  sv7, 
S
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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D
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
dxbexpatauh said:
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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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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S
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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