FINDING YOU THE RIGHT MORTGAGE
Buying a home should feel exciting, not overwhelming. Our in-house mortgage specialists are here to guide you every step of the way and help secure the most competitive rates across the UAE.
FREQUENTLY ASKED QUESTIONS
As a general guideline, banks typically offer up to seven times the applicant’s annual salary. However, this can vary depending on the bank and is influenced by existing financial commitments such as loans, credit cards, and other liabilities.
Rates differ greatly between bank to bank and will all depend on the customer's individual profiling and whether they're salaried or self-employed.
As always, final offers are subject to individual client profiling. For non-residents, the maximum loan-to-value typically available is 60%, with 3-year fixed rates starting from 3.89%.
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For expat residents (first-time buyer): 20%
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For UAE nationals (first-time buyer): 15%
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For expat residents (second-time buyer): 40%
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For UAE nationals (second-time buyer): 35%
There are exceptions to the rules though, some of the banks allow 2nd-time buyers, 20% and 15% deposits for expats and locals, respectively, if their existing mortgage is under 60% LTV.
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For salaried applicants: ID documents, salary certificate, 6 months' payslips, 6 months' bank statements and details of existing liabilities.
For self-employed: ID documents, company documents (trade licence, incorporation documents, memorandum of association, shareholders certificate, company profile, etc), audited accounts and/or 12 months business bank statements, 6 months' personal bank statements and details of existing liabilities.
This varies from bank to bank but normally banks will reply with initial observations and requests within 2 working days. Once additional documents have been provided, or additional questions have been addressed, the turnaround time to receive a pre-approval is usually between 5-7 working days.
CALCULATE YOUR MORTGAGE REPAYMENTS
Monthly repayment
4,223 AED
* Estimated initial monthly payments based on a AED 1,000,000 purchase pricee with a 4% fixed interest rate.