Get a loan based on the value of your house to cover anticipated expenses such as a family wedding, home renovations, children's education, company investments, and so on. AeFinance may assist you in obtaining a loan against property with low interest rates. Both residential and commercial properties can be used as collateral, and the funds from a Bank Loan Against Property can be utilised 
for a number of personal or business purposes.

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A mortgage is a loan that you can use to buy a home, an investment property, or a business 
property. The lender will secure the loan against the property you buy. A mortgage is paid back to 
the lender in monthly payments, which usually include a rate of interest/profit and a portion of the 
initial loan amount.

All property kinds, including freehold, leasehold, gifted, and land-gifted properties.

Interest on a mortgage may be computed in two ways: flat and decreasing rates of interest.A flat rate of interest is one in which the rate of interest to be paid remains constant during the life of the loan since it is always computed against the original loan amount (principal).
A declining rate of interest is one in which the amount of interest to be paid is calculated against the residual loan amount or outstanding balance, rather than the initial principle amount, after the repayments have been completed.A flat rate of interest is sometimes offered as a lower, more enticing rate than its falling counterpart. Taking out a mortgage It is critical to create a relationship with the

Most banks may evaluate affordability in somewhat different ways, but as a general rule, they will only take into consideration 50% of your monthly income while doing so.To determine your maximum affordability, they will subtract whatever other credit obligations you 
have (e.g., auto loans, personal loans, and around 5% of all your credit card limits) from this 50%.They will next conduct a stress test using a stress rate of interest that ranges from 3.5 percent to 8%, depending on the bank. The goal is to ensure that you can still afford your mortgage payments if interest rates rise to the test level.

Banks in the UAE demand security checks since they are employed in the event that a borrower fails to make mortgage payments. If this occurs, the bank will deliver the check, and if it bounces, they will be able to file a court action to seize the property and sell it to settle the debt.This is similar to what happens in other countries, where the bank has a clause in their contract that allows them to seize the home if the client fails on the mortgage. 

Every bank in the UAE requires a security cheque when providing any form of credit facility, such as credit cards, personal or vehicle loans, or mortgages.You must supply the bank with an undated cheque that covers the whole credit amount at a 

If your work provides you with a housing allowance, this might be factored into your mortgage 
For example, if you presently reside in company-provided housing and your contract or wage 
certificate states that you will be given a housing allowance if you leave the supplied home, the 
allowance you would be paid might be deducted from your mortgage.
Although you will still be required to make a down payment, the allowance can help to improve your 
affordability and, in certain situations, increase the amount you can borrow.

When qualifying for a mortgage, bonus income might be considered. It's more likely to be approved 
if it's a guaranteed bonus that's written into your contract or pay certificate, although discretionary 
bonuses can still be considered.

A No Objection Certificate, or NOC, is a sort of legal document given by an institution or individual 
indicating that no objections to the points expressed in the document exist.
When acquiring property in the UAE, a NOC from the developer is usually necessary, confirming 
clear title to the property and demonstrating that any service modifications and utilities have been 
paid. The NOC in this situation indicates that the developer has no objection to another individual 
purchasing the property.

You may purchase an insurance coverage that would protect you if you are unable to make your 
mortgage payments due to an accident, illness, or unemployment (this can include redundancy). This 
sort of coverage will not be available via your bank when you apply for a mortgage; instead, you will 
need to speak with an insurance agent to arrange one. If this is something you're interested in, we 
can put you in touch with insurance consultants.
Please keep in mind that this sort of insurance is distinct from the life insurance that is necessary to 
get a mortgage in the UAE. 

Off-the-shelf financing is accessible and something we can help with. It's worth noting, too, that 
financing for off-the-plan purchases is sometimes restricted to projects being handled by larger, 
more known developers. 

Yes, both residents and non-residents can receive a mortgage to help pay for the developer's 
handover payment.
Mortgage Finder will be able to arrange competitive terms with no processing or arrangement costs 
depending on how much has been paid prior to handover.

Some banks may allow a portion of the price of acquiring a home to be rolled into the mortgage, 
allowing you to save a lot of money up front. Our mortgage brokers can provide further information 
about this. 

Yes, as a non-resident, it is often simple to release equity (or cash) from your home. This approach, 
like a non-resident mortgage, requires minimum documentation and allows you to discharge up to 
55 percent of the property value for other reasons.

Yes, mortgages are available for developer final payments. Any payments made to the developer 
before to the down payment will be considered part of the down payment. 

Buildings insurance is a fee charged by banks. This varies, but in most situations, it is based on the 
bank's internal policy and translates to roughly 0.05 percent of the property value, payable annually.

Most banks will levy a penalty if you pay off your mortgage early, however, this varies from one bank 
to the next.
In most cases, the penalty will be between 0% and 3% of the outstanding mortgage balance, 
depending on whether the mortgage is being paid off with your own money, sold, or refinanced by 
another bank.

In the UAE, whether you may make overpayments on your mortgage is determined by the bank with 
which you took out the loan.
Most banks will enable you to make penalty-free overpayments of up to 50% of the outstanding 
debt as soon as you take out the loan. In some situations, if you have a fixed rate mortgage, the bank 
will only allow overpayments after the fixed rate term has finished.
More information about this may be obtained from Aefinance.

A title deed is a document that proves ownership of a piece of property and is registered with the 
Land Department. If you bought the house with a mortgage, your name will appear on the deed as 
the owner. Until the mortgage is entirely repaid, the original title deed is held with the bank as 

When you buy a freehold home in full (whether with a mortgage or cash), you own both the 
property and the land on which it sits. Leasehold is a type of property ownership where you buy the 
rights to the property for a set amount of time, usually 99 years.
Although leasehold property is unusual in Dubai and the UAE, there are a few localities where 
leasehold property may be purchased.

Land finance is available to help with both the purchase of the plot and the construction of the home 
on it. 

In a traditional mortgage, you will be required to pay a rate of interest to the bank, which is their 
profit for giving you the cash.
Because it is banned to charge interest on a loan under Shariah Law, an Islamic mortgage varies from 
a normal mortgage in that banks would acquire the property on your behalf and rent or lease it back 
to you for a profit.

The Emirates Interbank Offered Rate (EIBOR) is the interest rate at which banks lend to one another. 
EIBOR rates fluctuate on a daily basis and may be seen on the Central Bank's website. 

A reversion rate is the interest rate to which your mortgage reverts when your fixed rate period 
expires. In the same way that a variable mortgage rate is connected to an EIBOR rate, the reversion 
rate is usually related to an EIBOR rate plus a percentage added by the bank.

A fixed rate mortgage is one in which the rate of interest you pay on your loan is fixed for a set 
period of time, usually between 1 and 5 years. When the fixed rate term ends, you will most likely be 
switched to a reversion rate.
Variable rate mortgages have an interest rate that is tied to the EIBOR for one, three, or six months, 
plus a predetermined percentage added by the bank. This implies that, depending on EIBOR, the rate 
you pay might go up or decrease over time. For example, if EIBOR is 2.5 percent in month one and 
your bank's fixed margin is 1.49 percent, the variable rate you'll pay is 3.99 percent. If it's the sixth 

Yes, even if one of the applicants is unemployed, a husband and wife can be joint applicants for a 
property. As long as the applicant can show that they have the financial means to repay the loan.

Yes. In the United Arab Emirates, life insurance is required for all mortgages. In order to obtain a 
mortgage, the bank giving you the cash for your home purchase will almost always need you to 
acquire their in-house life insurance policy. However, we have a number of special partnerships with 
banks where we can assign an external life insurance policy that can save you up to 50% above the 
bank's in-house policy.

A Memorandum of Understanding (MOU) is a contract that is part of the purchase process. It's a 
document drafted by the real estate agent and signed by both you and the seller that lays out the 
timelines and terms and conditions of the property transaction. Before you sign the MOU, we will 
always double-check it for you.

Without a doubt! When it comes to employed and self-employed applicants, banks have various 
preferences. We have a lot of experience working with self-employed clients and are well-versed in 
the banks that are willing to cooperate with them. 

Speak with one of our mortgage brokers, who can analyze your borrowing capacity and guide you 
through the pre-approval process. 

The mortgage pre-approval procedure, which can take up to 5 working days, is the first stage in 
securing a mortgage. However, depending on the bank you select and the intricacy of your situation, 
obtaining pre-approval may take longer.
Once you've received pre-approval and found a home you want to buy, we'll handle the remainder 
of the process until it's completed on your behalf. 

We recommend speaking with one of our mortgage brokers as the initial step in obtaining a 
mortgage in the UAE.
We will meet with you for an introductory consultation to examine your position and borrowing 
capabilities. We will then be able to give you suggestions for the best mortgage products for you and 
walk you through the mortgage pre-approval process based on this consultation.
We will work with the bank on your behalf to get the mortgage set up in a timely way and handle the 
entire process until you take possession of the property once you have selected a home you want to 
buy and have finalized it.

Employed ex-pats have a maximum term of 65 years, whereas UAE residents and self-employed expats have a maximum term of 70 years.

Yes, before obtaining a mortgage, all banks will do a credit check on you. The credit bureau is named 
Al Etihad Credit Bureau, and by installing the app and paying a nominal charge, you may get your 
own credit report.

The documents you'll need will vary depending on your situation, but our mortgage brokers will be 
able to talk you through it.
In general, the following documents will be required for your mortgage:
• Copy of your passport, visa and Emirates ID
• Salary certificate addressed to ‘Mortgage Finder’
• Last six months payslips and bank statements
• Latest credit card statements
• Proof of your current address – copy of DEWA bill or tenancy agreement

Of course, your parents and other family members are welcome to help with the down payment by 
gifting or loaning you the funds.

You are not permitted to use a personal loan for the down payment according to Central Bank 
requirements. However, a personal loan to meet the related expenses is permitted.

If your down payment is insufficient, you may want to consider liquidating any investments, 
borrowing from relatives, or looking for a smaller home.

For properties under AED 5 million, the required down payment is 20% for expats and 15% for UAE 
nationals. An expat must put down 30% on a house worth more than AED 5 million, while a UAE 
native must put down 25%.

The amount you may borrow is mostly determined by your income and responsibilities. To figure 
this out, utilize the Mortgage Finder Affordability Calculator.
An expat's maximum loan-to-value (LTV) for a home purchase price under AED 5 million is 80 
percent, whereas a UAE national's maximum LTV is 85 percent. For homes worth more over AED 5 
million, the LTV drops to 70% for expatriates and to 75% for UAE nationals. 

Yes, obtaining a mortgage in the UAE is pretty simple for a non-resident. If you're a non-resident 
looking for a mortgage in Dubai, Abu Dhabi, or another Emirate, we'll need three months' worth of 
bank statements and a copy of your passport. 

Without a doubt! You can borrow up to 75% of the property value for your first purchase if the 
property is less than AED 5 million. As a foreigner, you can borrow up to 65 percent of the property 
value if the property is worth more than AED 5 million. 

 As long as you can prove your income, almost anyone in the UAE may receive a mortgage. Salary,  commission, and rental income are all examples of sources of income. To discuss your individual  circumstances, contact one of our Aefinance employee.

Mortgage rates fluctuate monthly and now range from roughly 2.99 percent to 4.99 percent, 
depending on the institution and product type.

When acquiring a home in the UAE, you will incur certain charges, which may vary significantly 
depending on whether you are in Dubai, Abu Dhabi, or another Emirate. The costs that you will have 
to pay in addition to the cash deposit are shown in the table below (or down payment).
• Land Department Fee - 4%* of the purchase price plus AED 580 (Abu Dhabi 1%-2%)
• Agent Fee - 2%* of the purchase price
• Mortgage Registration Fee - 0.25%* of the mortgage borrowed plus AED 290
• Bank Arrangement Fee - 0 to 1.5%* of the loan amount
• Trustee Fee - AED 4,000*
• Valuation Fee- AED 2,500 – AED 3,000*
*plus VAT

A bank valuation charge and a bank arrangement fee are costs that are particular to mortgages. The 
bank valuation cost can be anywhere between AED 2000 and AED 5000, and the bank arrangement 
fee can be anywhere between 0% and 1.5 percent, depending on the bank.
It will also be necessary to get a visa in Dubai.

We'd say no, but there's a reason for that.
When you approach a bank directly, they may not have the greatest mortgage offer for your case, 
and they will be more interested in giving you the advantages of their product.
If you contact Aefinance, our experts will be able to look at mortgage products from various banks 
around the UAE to find the ideal one for you, as well as highlight the benefits and drawbacks of each 
so you can make an educated decision. 

The advantage of working with one of our mortgage brokers is that we can provide you with 
unbiased professional advice to assist you in finding the ideal mortgage package for your needs. 
We'll go through all of your options with you and give you our recommendation for the best one, so 
you can make an informed decision.
Our mortgage advisers will walk you through the process of buying a home in the UAE and make the 
process of securing a mortgage simple.
We also have access to special mortgage products that you won't find if you go straight to the bank.

Yes. You can keep the property as a buy-to-let after you leave the UAE. The majority of banks are 
primarily concerned with you making your mortgage payments on time and not falling behind.

The major reason you should be pre-approved is that banks have varying appetites for different sorts 
of clientele depending on their profiles. As a buyer, pre-approval provides you peace of mind in 
knowing that you may look at houses with confidence, knowing that if you find the property you 
want to buy, you will be able to move forward promptly with your preferred bank.
Pre-approval also tells potential sellers that you are a serious buyer who isn't simply windowshopping, which can put you in a stronger negotiating position and help you obtain a better deal.

If you quit your work for whatever reason (e.g., if you lost your job, relocated to another job, or even 
moved outside of the UAE), your employer will provide the bank an undertaking that any end-ofservice gratuity will go to the bank where the salary transfer is being completed.
Some banks may give you a little better rate if you move your pay to them. If these rates are 
worthwhile, it will depend on your circumstances, which our team of qualified mortgage brokers can 
better advise you on.

The first step in the mortgage process for purchasing a home is to get pre-approved for a loan.
It's when the bank looks into your application and sends you a letter or email stating that they've 
pre-approved you and will lend you the required amount. This usually lasts for 60 days. This gives 
you the peace of mind that your mortgage approval has been acquired on specific terms from the 
bank, as well as the confidence to bargain on homes knowing that everything will be completed 

It is critical that you choose a mortgage programme that best meets your needs rather than relying 
solely on the plan given by your own bank, since this may not be the greatest option for you.
We always recommend speaking with a professional mortgage consultant, such as Aefinance, 
because we have full access to all of the mortgage options available on the market, as well as special 
An Aefinance employee will provide you unbiased advice and help you comprehend the entire 
variety of products available from banks. They will discuss the advantages and disadvantages of the 
numerous alternatives available and give their recommendation for the best option based on your 
circumstances, so you can make an informed decision.

Exclusive mortgage products are offers we receive directly from banks that they may or may not 
make if you contact them for a mortgage on your own.
Some banks are able to provide us with special mortgage programmes because we work hard to 
build strong relationships with them, and they see the value of using a mortgage broker for both 
you, the end user, and them, the lender.
Discounted interest rates, free arrangement and processing costs, smaller reversion margins, no 
obligation for salary transfer, and the possibility to assign an external life insurance policy are 
examples of the sorts of offers we may get from a banking partner. Depending on the situation, we 
can then transmit these exclusive offers to our clients. 

There are many different types of mortgage products available in the UAE; here are a few of the 
more common ones:
• Residential mortgages
• Investment mortgages
• Non-resident mortgages
• Commercial mortgages
• Rent only mortgages
• Fixed and floating rate mortgages
• Offset mortgages
• Capital and interest/profit mortgages
• Interest only mortgages
• Fixed payment mortgages
• Land and construction mortgages
All of these options are accessible in both conventional and Islamic financing.