Securing a mortgage in the UAE is a significant step towards realizing your property ownership dreams. At White Bricks Real Estate, we understand the intricacies of the UAE’s real estate and mortgage landscape. Our mortgage services are designed to make the process hassle-free. Whether you’re a resident or a non-resident, we provide expert guidance to explore various financing options. From helping you choose the right lender to assisting with documentation and processing, we’re your trusted partner throughout the journey. We offer competitive rates, favourable terms, and personalized solutions tailored to your financial needs. With our assistance, you can navigate the UAE mortgage market with confidence and ease, turning your property aspirations into a reality.

Everything you need to know about mortgages and real estate in the UAE

Navigating the intricacies of mortgages and real estate in the UAE can be a complex endeavour. At White Bricks Real Estate, we’re here to simplify the process. Our comprehensive guidance covers every aspect, from understanding the local real estate market to securing the right mortgage. We keep you informed about market trends, legalities, and mortgage options, whether you’re a resident or non-resident. With our expertise, you can confidently explore property investment opportunities, mortgage financing, and related services. We believe that informed decisions are the foundation of a successful real estate journey. Trust us to provide the knowledge and support you need to make the best choices for your real estate ventures in the UAE.

What do you need to do to meet the eligibility criteria?

To meet the eligibility criteria, these things have to be considered-

• Age: Applicants should typically be between 21 and 65 years old, although this can vary among lenders.
  
• Residency Status: Depending on the lender, you may have to be a UAE resident or an expatriate with a valid residence visa.
• Income: Lenders often require a minimum income to ensure you can meet repayment obligations. This income threshold can vary.
• Employment: Stable employment with a minimum tenure is commonly required. Self-employed individuals may need to provide additional documentation.
• Property Type: Some lenders have specific requirements regarding the type and location of the property you intend to purchase.
• Credit History: A good credit score is usually essential for mortgage approval.
• Down Payment: You will typically need to make a down payment, usually a percentage of the property’s value.
  

Expertise areas

Our expertise spans various key areas within the real estate and mortgage industry in the UAE. We excel in property investment consultancy, guiding you through the intricacies of the real estate market. Our mortgage services offer tailored financial solutions, making property ownership a seamless reality. We’re experienced in facilitating UAE Residence visas, simplifying the process of setting up your business, and expanding your entrepreneurial horizons. Our expert team’s commitment to excellence, integrity, and customer satisfaction sets us apart. We go beyond industry standards to turn your dreams into realities. Whether it’s the comfort of a new home or broadening your investment portfolio, our expertise helps you achieve your real estate aspirations in the dynamic UAE market.

How much can you borrow?

The amount you can borrow for a mortgage in the UAE depends on various factors, including your income, credit history, and the property’s value. Typically, lenders consider your debt-to-income ratio, with most allowing a maximum of 50% of your monthly income to go towards mortgage payments. Your credit score also plays a significant role, affecting the interest rate and loan amount. Additionally, lenders evaluate the property’s value and condition. While policies may vary among banks and financial institutions, it’s essential to clearly understand your financial standing and the property’s appraisal to determine how much you can borrow for your real estate investment in the UAE.

Maximum LTV (Loan to Value)

• If the value of the property is less than AED 5 million – 80% for the first mortgage – 65% for the second mortgage and more
• If the value of the property is over AED 5 million – 70% for the first mortgage – 65% for the second mortgage and above
• Expats and non-residents of the UAE are considered eligible for a maximum loan-to-value ratio of 50%
• In other cases, a few private banks finance off-plan projects after 50% completion and, as such, offer an LTV of 50%.
• To increase the chances of eligibility, joint applications are also allowed (in the case of siblings, couples and business partners)
  

  What about the necessary documents?

  When it comes to securing a mortgage or home loan in the UAE, the path to homeownership is paved with specific document requirements. The documents you need can vary based on your employment status, whether you’re an employee or self-employed, and even if you’re an expat. These documents serve as a critical part of your mortgage application and approval process. To help you navigate this journey and understand the necessary documents involved, let’s delve into the details of what you’ll need to provide as you embark on your real estate journey in the UAE. The right documentation ensures a smooth and successful mortgage application, bringing you one step closer to achieving your real estate dreams in the UAE.

  For employees:

  • Application form, consent letter and authorization letter for office check
  • Valid national ID card or passport, residence visa and Emirates ID card
  • Original bank statement for the last 3 months for new customers
  • Salary certificate
    

    For the self-employed:

    • Application form, loan authorization letter and office check consent letter
    • Copy of business license, chamber of commerce registration, memorandum and articles of association
    • Original 12-month company and personal bank account statements for new customers
      

      For expats:

      • A copy of your passport
      • Proof of UAE residency and proof of current address
      • Financial statements such as proof of salary, bank documents and tax returns