Our Services
Our Services
Whether you are a first-time homebuyer or looking to refinance, we offer a range of mortgage solutions to help you achieve your homeownership goals.
Residential Mortgages
We will find you the mortgage to finance your home which will suit all your requirements using our extensive knowledge and experience of UAE’s residential mortgage offerings.
Non-Resident Mortgages
If you live or work outside of the UAE but are looking to buy a property here, we can secure a mortgage for you with minimal documentation.
Commercial Mortgages
Rent Only Mortgages
Mortgages in the United Arab Emirates are readily available to expat borrowers looking to buy or invest in property. Our guide explains what you need to do to get on the property ladder.
Offset Mortgages
An offset mortgage is a relatively new concept in the UAE, under which loan holders can link their savings account, current account, credit card account, and the loan account.
Interest Only Mortgages
An interest-only mortgage is a type of mortgage in which the mortgagor (the borrower) is required to pay only the interest on the loan for a certain period.
Land / Construction
Looking to purchase land? Financing options are available. Additionally, if you are planning to construct your dream home on the land you own, we can assist you with arranging the necessary funds. Use our calculator to estimate your financing needs.
Eligibility for a Home Loan in Dubai
- Time spent in the UAE (typically 6 months to a year)
- Length of employment in the UAE (typically a minimum of 6 months)
- A business period in the UAE (typically 2 to 3 years)
- Credit history
Home Loans in Dubai: Pre-Requisites
As you would expect, home loans and mortgages are common in Dubai, and clear rules are laid out by the UAE Central Bank. Home loans in Dubai for expats are issued on certain conditions (along with those mentioned above).
The first step of this process is to find out how much money you would need to pay upfront. This is usually done by obtaining a pre-approval from the bank.
Second, you would want to know the duration of the mortgage. You can evaluate the pros and cons of reducing versus fixed interest rates to make an informed decision. These are all key considerations for any expat seeking a Dubai mortgage. Moreover, there are a few other things to bear in mind when applying for a home loan in Dubai as an expat.
Upfront Costs
- 20% of the purchase price as a down payment (properties less than AED 5M)
- 4% transfer fee
- 0.25% mortgage registration fee
- Valuation fee – ranges from AED 2,500 + VAT to AED 3,000 + VAT
- 2% real estate commission (can vary)
Some banks in Dubai allow mortgage holders to add three-quarters of the total purchase fee to their home loan.
Mortgage Pre-Approval
Before you start house hunting, you should obtain mortgage pre-approval. It gives you a clear confirmation of your budget. This is crucial, as you can narrow down your search according to your budget. Moreover, when you sign a sales agreement, you are required to provide a cheque for 10% of the purchase price. If you do not have financial approval and are refused bank finance later, you will lose the deposit money to the bank.
Valuation Clause In The Sales Agreement
Ensure your agreement includes a property valuation clause. Before the bank offers a loan, it will conduct a property valuation. If the valuation indicates that the property is overpriced, the bank will refuse to lend. In this case, the valuation clause protects the buyer’s deposit. Alternatively, the valuation could be carried out before signing the sale agreement.
Loan Term
The maximum loan period permitted in the UAE is twenty-five years, with an age limit of 65 years for salaried individuals and 70 years for the self-employed. Naturally, a longer-term loan reduces your monthly payment but increases the total interest paid. Borrowing capacity also increases with a longer-term mortgage in Dubai.
You can also opt for a longer-term loan and shorten the period by making additional payments each year. You can repay an extra 10% of the principal amount each year without penalty. Before making any decision on your Dubai home loan, it is best to seek professional advice.
Repayment Value
Typically, the bank’s repayment plan is based on your monthly income. In most cases, the repayment amount is no more than 50% of your monthly income. If you have other loans (car loans or any other repayments to banks), those amounts are also deducted from the calculations.
Banks calculate borrowing capacity using their own individual formulas.
Get Mortgage Quote
If you are looking for a trusted Mortgage Broker in Dubai to help you navigate the complex world of mortgages in the UAE, look no further than YOUAE Mortgages. Contact us today to learn more about how we can help you achieve your financial goals.
People Also Ask
What mortgage services does YOUAE Mortgages provide?
YOUAE Mortgages offers complete mortgage solutions including home loans for UAE nationals, resident expatriates, non-resident mortgages, refinancing solutions, Islamic home finance, mortgage pre-approval, and mortgage advisory services.
Do you work with multiple banks and lenders?
Yes, YOUAE Mortgages works with a wide network of leading UAE banks and financial institutions. This allows us to compare multiple offers and find the most suitable mortgage option for your profile.
Is there a service fee for mortgage consultation?
Initial mortgage consultation is typically free. Any applicable brokerage or processing fees are explained transparently before proceeding with your application.
Can YOUAE Mortgages help first-time home buyers?
Yes, we guide first-time buyers through every step including eligibility assessment, pre-approval, bank selection, documentation, and final loan disbursement.
Do you assist with mortgage pre-approval?
Can you help non-residents get a mortgage in the UAE?
Yes, YOUAE Mortgages specialises in non-resident mortgages and assists international buyers with eligibility assessment, bank selection, documentation, and approval.
Do you offer Islamic or Shariah-compliant mortgages?
Yes, we arrange Islamic home finance solutions that are Shariah-compliant through approved Islamic banks in the UAE.
Can you help refinance an existing mortgage?
Yes, we assist with refinancing to help reduce interest rates, lower monthly payments, or access additional financing against your property.
How long does the mortgage process usually take?
The timeline depends on the applicant profile and property type. Pre-approval can take a few days and full mortgage approval generally takes two to four weeks once documents are complete.
What documents are required to start the mortgage process?
Required documents usually include passport, Emirates ID if applicable, salary certificate or income proof, bank statements, credit report, and property details. Requirements may vary by bank.
Can self-employed individuals apply for a mortgage through YOUAE Mortgages?
Yes, we assist self-employed applicants and business owners. Additional documents such as trade license, financial statements, and business bank statements may be required.
Will YOUAE Mortgages negotiate rates on my behalf?
Yes, we negotiate with banks to secure competitive interest rates and favourable terms based on your profile and market conditions.
Do you help with both residential and investment properties?
Is salary transfer mandatory for getting a mortgage?
Salary transfer is not mandatory. However, salary-transfer customers may receive better rates or terms depending on the bank.
Can YOUAE Mortgages help after loan approval?
Yes, we continue to support clients through valuation, final approval, loan offer signing, and disbursement until the mortgage is successfully completed.
Why should I choose YOUAE Mortgages?
YOUAE Mortgages provides independent advice, access to multiple banks, transparent processes, personalised solutions, and end-to-end support throughout the mortgage journey.