Property Financing
Overview
A mortgage, known locally as a home loan, is a financial agreement where a bank or financial institution provides funds to purchase property. The property serves as collateral until the loan is fully repaid.
- Both UAE nationals and expatriates can apply.
- Age requirements: Usually between 21 and 65 years.
- Minimum monthly salary starting at AED 15,000 for expats.
- Ready apartments, penthouses, and private duplexes.
- Villas and residential townhouses.
- Selected commercial retail spaces and corporate offices.
- Loans up to AED 15 million are widely available for expatriates.
- Subject to valuation assessment of the target property.
- Flexibility depending on the partner banking channels.
- For UAE Nationals: A down payment of 20% is typical.
- For Expatriates: Down payment requirement of 25% to 30%.
- Reduced downpayment options available under special bank portfolios.
Key Benefits & FAQs
Securing property financing goes beyond standard numbers. Understanding these primary financial indicators and repayment variables ensures a seamless, long-term real estate experience.
You have three main options to customize how you finance your premium property acquisition:
- Fixed Rate: Constant interest for a selected term (e.g., 3 or 5 years), offering repayment certainty.
- Variable Rate: Fluctuate alongside the Central Bank's EIBOR index depending on general market status.
- Hybrid Rate: Combination terms, starting fixed and smoothly transitioning into floating.
Early repayment is possible; however, some banks may impose early settlement fees. It's advisable to review the terms and conditions with your lender before making additional payments.
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