Mortgages
Mortgage Experts in Dubai
Buying a home should be easy and worry-free. Talk to our third party mortgage specialists today and discover the most competitive rates across the UAE.
Frequently Asked Questions (FAQ)
How much is my borrowing limit?
As a general guideline, the borrowing limit is typically capped at 7x the applicant’s annual salary. However, this may vary depending on the bank. Existing loans, credit cards, and other financial liabilities will also impact the maximum amount that can be borrowed.
What are the rates I should expect in the UAE?
Interest rates vary significantly from one bank to another and are determined based on the customer’s individual profile, including whether they are salaried or self-employed.
Can non-residents avail financing in the UAE?
Yes, subject to individual client profiling as always. For non-residents, the maximum loan-to-value (LTV) is typically up to 60%, with interest rates starting from 3.89% for a 3-year fixed term.
What is the minimum deposit?
For first-time buyers:
Expat residents: 20% down payment
UAE nationals: 15% down payment
For second-time buyers:
Expat residents: 40% down payment
UAE nationals: 35% down payment
However, there are exceptions. Some banks may offer reduced down payments—20% for expats and 15% for UAE nationals—even for second-time buyers, provided their existing mortgage has a loan-to-value (LTV) ratio below 60%.
What kind of documentation is required?
For salaried applicants:
Identification documents
Salary certificate
Last 6 months’ payslips
Last 6 months’ personal bank statements
Details of existing liabilities
For self-employed applicants:
Identification documents
Company documents (trade licence, incorporation documents, memorandum of association, shareholder certificate, company profile, etc.)
Audited financial statements and/or 12 months’ business bank statements
Last 6 months’ personal bank statements
Details of existing liabilities
How long will it take to get a pre-approval?
Timelines vary between banks, but initial document requests are typically shared within 2 business days. Once all required documents are submitted and additional questions are answered, pre-approval is generally issued within 5 – 7 business days.
How much can I borrow?
Estimate whether you can get a mortgage to buy this property.
