wow this guy is like the humanized chat gpt version of loans and mortages in dubai.. he is actually more accurate lol i work in banking too and i can see that the process is pretty much the same as europe. Well done sir u r a master
I come from the finance industry, to those who are not familiar with mortgages and their secrets; this channel and the expert guest provided a pure content worth a lot!
Compared to well-structured markets like the US, UK, and Canada, getting a mortgage in Dubai comes with some added risks. Dubai's mortgage rules might not be as strict, which could make things a bit uncertain for borrowers. The real estate market in Dubai is known for its ups and downs, and economic factors like oil prices can influence it, making it a bit riskier. Also, it might be a little harder for lenders to judge if you're good at repaying your loans because Dubai doesn't have as much credit history data. So, Dubai's market is a tad more unpredictable, but it's not all bad!
Tahir's podcast is direct and fact based. No speculative blue ocean talks like most of the so called "agents and brokers" who are nothing more than desperate oil salesmen trying to hype up properties while preying on emotional purchase. Well done.
Feel free to watch my video on the full guide to get a mortgage in dubai, I explained the process I went through and hopefully it will be useful for you too! Cheers and have a lovely day
Thanks for the great video. I am from Qatar and looking to invest Dubai. This interview helped me a lot. Amit seems very knowledgeable and trustworthy. I will definitely work with him once I decide to buy property in Dubai.
Very good interview with lots of valuable information. Just one thing. Usually, after asking a question, the host (who is not the expert) should allow the guest (who IS the expert) to talk without constant interruptions rehashing what he is saying and not permitting him to finish and maybe even provide additional information. Hosts should be FRUGAL in their speech.
thanks for a wonderful podcast, one request - if you could please insert the sections in the video like we can scroll on the relevant subject that really helps.
What about interest/riba free loan or maybe installments for non residents ,whats will be the process and how much can non resident borrow in that case and which banks/companies gives those loans .
Hi I recently relocated to UAE like 40 days ago and now i have a job that pays me 10k per month. What will be the eligibility criteria for mortgage for me if i want a 1BHK apartment for myself.
How much can be loaned with a total income of Dhs 32,000, but it's the total household income of husband and wife. Wife is employed, under husband's visa. In that case, can both husband and wife be co-owners?
What new Updates for UAE Banks regarding the policy for bounced checks in relation to self-employed mortgage applicants and credit card settlements will continue to impact lending decisions ?
I have one Qs that i would like to clarify. For example, i invested in offplan property. It has 50/50 payment plan. I will pay 50% during construction. But at handover, i have to pay the remaining 50%. My property value at the time of launch was 700K. I will pay 350k till the handover. After 3 years when the property is handed over to me, it might have some appreciation and its value becomes 800K. So when i now apply to morgtage bank for 80% loan then will Mortage bank pay the remaining 350k to developer-only or (2) because the property value is not 100k more than the original price i.e. 800K so will bank will give 80% of appreciated value which is 640k and out of this 650k, will give 350k remaining value to developer and 290k will pay to me?
@@tahirmajithia Thanks a lot. It means if the property price was 700k and the payment plan was 50/50. I will pay 50% i.e. 350k during construction and at the handover of the property when i will apply for a mortgage, the bank will pay 80% of 700k or will pay 50% (350k)?
I go through your podcasts on regular basis. You are doing a fantastic job giving correct informations. What I wanted to know is for off-plan mortgages for non residents is it only available for EMAAR properties? As per my knowledge they do also finance the off-plan hand over mortgage for some well known private developers as well. Can you please confirm? I did 2 off-plan investments in dubai. Both if them are with top notch developer. Very well known in Dubai. Not taking the name of the developers here.
Thanks a lot for your kind words glad you like the content 🙏🙏🙏. Banks fund handover payments for most of the private developers because the handover payment is technically due once the building is completed and at that stage the property is no longer off plan and is considered ready by the bank
What is the Business loan and car rate of interest (roi). How many diff loans are available What if I default and want 2 pay back after few years 2 come back to gulf countries.
Thank you so much for a very simple explanation for a very interesting subject. I like how you ask all the questions I would think about before buying property in Dubai 👍🏽
I am a non-resident Canadian 39 years old. What is the maximum percentage I can borrow for a ready to move unit. It was mentioned 60% maximum. That seems way too high!
Good info, but hope all those who invest get a secure return. I haven't got a good experience in the past not once but lost twice by investing in property.
@@tahirmajithia Can you please guide which banks offers mortgage of the above criteria of employed with fixed salary in family owned company,much appreciated
Very informative podcast. for NRIs who are buying 2 million worth of property, At what stage they would get the title deed, and also at what stage are they eligible to apply for a Golden visa? Please advise
You get the title deed when you purchase the property. For golden visa you can apply if your equity/ contribution in the property is 2 million Aed. If the total value is 2 million Aed and there is a mortgage then it’s not possible to get golden visa but say the property value is 5 million and your down payment is 2 million & rest is mortgage then you can get golden visa
@@bulljam8888 no it is. Even if you take a mortgage you still get a title deed the only thing is it’s mentioned that the property is mortgaged. If you have paid 2 million Aed and rest is mortgaged you still can get golden visa. I have already done it for my clients
In Dubai, for now as the real estate is booming the value of the property can be double within the short period of time as well or as per the demand. It will not take that long as in UK.
Hi Tahir, greetings from Canada Thanks for the video, it is very informative. I have a question, my brother is planning to buy a house in Dubai for Dhs 1 million. With the golden visa he is getting can he sponsor us his 2 sisters and give us residence visas? Thanks 😊
@@tahirmajithia thank you. How about if the value of property is Dhs 2 million can he sponsor us his sisters? BTW, I have subscribed to your channel. It is very informative and provides good value.
Really informative podcast! Thank you. For residential mortgages based on salary multiples, is this based on basic or total salary? (Given that many employers in Dubai offer a basic salary along with an allowance to make the total monthly salary)
Nice video! I’ve heard that for non-resident buying off-plan it’s only possible to get a mortgage for 50% of the final handover payment. So let’s say I buy a 1 mln dirham off plan property with a 70/30 payment plan, I can only finance 150,000. Or can I get a mortgage for the whole handover payment of 300,000?
The tenure doesn’t change the down payment requirement. If you’re a resident of Uae then you need 20% down payment and if you’re a non resident then 40-50% down payment
I’ve always seen others say that as well, hence after you finish your golden visa can you apply for permanent residency with the UAE government? I have another question, can the UAE government nominate you for citizenship? If you continuously invested into the country?
Hi Tahir, Thank you for the info I had a question in regards to early settlement If i take a mortgage for 500000 at 5% for 25 years The total il be paying for 25 years is 876900 including interest But if i want to do an early settlement in the 37th month Total loan already paid in 36 months in 105228 including interest Now i decide to do early settlement Do i have to pay 1% of the remaining principal amount or the total remaining loan amount (including interest)
Good video, feel free to check my mortgage videos where i explain in my own way the step by step the requirements for getting your first mortgage. Have a great day all!
Getting a mortgage in uae is like winning the lottery close to impossible. Banks have unrealistic criteria in uae. Your employer has to be listed and bla bla… even if you are getting 70k + salary. They don’t have money to lend . Period. Looking for guaranteed applicants which doesn’t exist. You’re just barely scratching the surface with the info you provided. The real question you should be asking is, “explain in detail the vetting process for salaried individuals”. Stop giving false hope to people. Etihad credit bureau is a complete joke for a country with vague or non existent laws regarding consumer protection. It’s simple, what guarantee does a bank have on a customer with a 2 year visa ????!! Absolute zero transparency with the banks in uae. In the USA the banks drool over you being their customer, in UAE they make you feel like they’re doing you a favor same as this guy was treating you on your own UA-cam channel !
You’re totally wrong I have had clients with 10k salary also get mortgages and it’s not so difficult unless you are heavily leveraged already. Also non residents who don’t live in UAE get loans for properties easily.
@@tahirmajithia why don’t you prove me wrong if you’re so sure about what you’re saying ? Make another video and invite the same guy over and let him explain in detail what documents the banks want from applicants who work for small companies???
which is the best real estate company for new joiners to begin with, especially as an off plan realtor ?? and how many months backup one should keep? ??????????
You should keep 6 months backup before you join. It’s difficult to name one company because there are a lot of good companies but it also depends on where you feel comfortable working
wow this guy is like the humanized chat gpt version of loans and mortages in dubai.. he is actually more accurate lol i work in banking too and i can see that the process is pretty much the same as europe. Well done sir u r a master
I come from the finance industry, to those who are not familiar with mortgages and their secrets; this channel and the expert guest provided a pure content worth a lot!
Thanks a lot 🙏🙏🙏
Agreed. I am a banker and agree that Amit is very knowledgeable at what he is doing.
Compared to well-structured markets like the US, UK, and Canada, getting a mortgage in Dubai comes with some added risks. Dubai's mortgage rules might not be as strict, which could make things a bit uncertain for borrowers. The real estate market in Dubai is known for its ups and downs, and economic factors like oil prices can influence it, making it a bit riskier. Also, it might be a little harder for lenders to judge if you're good at repaying your loans because Dubai doesn't have as much credit history data. So, Dubai's market is a tad more unpredictable, but it's not all bad!
Tahir's podcast is direct and fact based. No speculative blue ocean talks like most of the so called "agents and brokers" who are nothing more than desperate oil salesmen trying to hype up properties while preying on emotional purchase. Well done.
Thanks a lot for your feedback 🙏🙏🙏 really appreciate it
Two Champs together, Kudos Tahir and Amit, Very Informative 😊
Thanks a lot sir 🙏
@@tahirmajithia Hi Tahir im a new subscriber to you channel how can I contact you regarding building a new home in Dubai ?
@@shefikshefik5181 my contact details are on my page or in the description of the video. You can also email me on tahir@trustedhomesdubai.com
Amazing conversation... Clear , relevant, detailed and fast paced... Superb.. thank you
Glad you liked it 🙏🙏
Thanks for the info! Great to know someone to work with in Dubai!!
🙏🙏🙏
Asslaamu Alaikum Tahir Sb, I met you in while you were coming out of Masjid in Zabeel area last Friday, I'm fan of your youtube videos
I am new realtor , got 26 points from your video to make a presentation for a client. It was really helpful. Thanks alot
Glad it was useful 🙏🙏
If an offplan property is paid 40% , can i mortgage remaining 60% ? @@tahirmajithia
Can you write here 26 points bro
Great video. As an Australian it’s hard to find content like here so thank you for doing it
Thanks 🙏 glad you liked it
Feel free to watch my video on the full guide to get a mortgage in dubai, I explained the process I went through and hopefully it will be useful for you too! Cheers and have a lovely day
Do you need income for non residents too or just bank account
Comprehensive questions from Mr. Majithia and excellent answers from Mr. Nainani. Thank you both.
Thanks 🙏
Tahir and Amit, thank you for your sharing, expertise and insights. Super informative and useful indeed 👍
Mashreq bank product is the best in the mkt
If your bank statement is strong you can apply
Mashreq and others are doing non resident financing
Very good way of asking questions abd so simpler way of answering...fantastic job 🎉🎉🎉🎉
Thanks 🙏
Thanks for the great video. I am from Qatar and looking to invest Dubai. This interview helped me a lot. Amit seems very knowledgeable and trustworthy. I will definitely work with him once I decide to buy property in Dubai.
Awesome questions, pretty clear and understandable answers. Thank you guys 👏🏻
🙏🙏🙏
Very interesting.thankyou both.
Glad you liked it 🙏
Very good interview with lots of valuable information.
Just one thing. Usually, after asking a question, the host (who is not the expert) should allow the guest (who IS the expert) to talk without constant interruptions rehashing what he is saying and not permitting him to finish and maybe even provide additional information.
Hosts should be FRUGAL in their speech.
Thanks for the feedback
A complete guideline for mortgage property 🙏👏
🙏🙏
This was very good! Can you make one about Halal mortgage and finance for those who don't want to deal with interest?
thanks for a wonderful podcast, one request - if you could please insert the sections in the video like we can scroll on the relevant subject that really helps.
Sure will try and do that soon. Appreciate the feedback 🙏🙏🙏
What about interest/riba free loan or maybe installments for non residents ,whats will be the process and how much can non resident borrow in that case and which banks/companies gives those loans .
You have Islamic loans also available and non residents can get upto 60% mortgage in dubai
GOOD CONVERSATION AND VERY INFORMATIVE KEEP IT UP TAHIR JI AMIT JI 🙏 GOD BLESS
Thanks 🙏
Amazing Sir @Amit Nainani 🎉👍
Hi I recently relocated to UAE like 40 days ago and now i have a job that pays me 10k per month. What will be the eligibility criteria for mortgage for me if i want a 1BHK apartment for myself.
what job is this, if i may ask? and can u recommend me
BS 😂. 10 my ass . Maybe diram
Great video, would have been nice if you would have put timestamps to different topics.
Thanks. Noted Will try and put the time stamps in description.
You forgot to ask about defaults - how the banks handle that part
This was absolutely amazing, thank you
🙏🙏🙏
What about mortgages if i buy trough local LLC?
Very informative 👍🏼 thank you
Glad you like it 🙏
Very informative podcast.
It's good to know mortgage is an option
Hope some day I could buy a investment property in Dubai 👍
Thanks. Glad you liked it. Hope you make your property investment in dubai soon 🙏🙏
@@tahirmajithia I hope too brother
Very nice videos. Please make one video on Islamic banking mortgage
Thanks sure will do
I am also interested in this. I’m from USA. Many Muslims are interested in Islamic financing
How much can be loaned with a total income of Dhs 32,000, but it's the total household income of husband and wife. Wife is employed, under husband's visa.
In that case, can both husband and wife be co-owners?
Thank you so much… was very very informative.!
Glad you liked it
This is well informed Thank You I have enjoyed watching this and I'm much more knowledge than I was 30 minutes ago bless
Glad you liked it 🙏🙏
Thanks for these talks
What new Updates for UAE Banks regarding the policy for bounced checks in relation to self-employed mortgage applicants and credit card settlements will continue to impact lending decisions ?
I have one Qs that i would like to clarify. For example, i invested in offplan property. It has 50/50 payment plan. I will pay 50% during construction. But at handover, i have to pay the remaining 50%. My property value at the time of launch was 700K. I will pay 350k till the handover. After 3 years when the property is handed over to me, it might have some appreciation and its value becomes 800K. So when i now apply to morgtage bank for 80% loan then will Mortage bank pay the remaining 350k to developer-only or (2) because the property value is not 100k more than the original price i.e. 800K so will bank will give 80% of appreciated value which is 640k and out of this 650k, will give 350k remaining value to developer and 290k will pay to me?
In case of off plan the bank will usually take the original purchase value of 700k and based on that will release the funds
@@tahirmajithia Thanks a lot. It means if the property price was 700k and the payment plan was 50/50. I will pay 50% i.e. 350k during construction and at the handover of the property when i will apply for a mortgage, the bank will pay 80% of 700k or will pay 50% (350k)?
@@SW_Sherry that depends on the bank as well some banks will only pay the 350k some will give 80% of 700k
I would like to know about Green visa also. Could you please ..?? How much is the investment amount?
I go through your podcasts on regular basis. You are doing a fantastic job giving correct informations. What I wanted to know is for off-plan mortgages for non residents is it only available for EMAAR properties? As per my knowledge they do also finance the off-plan hand over mortgage for some well known private developers as well. Can you please confirm? I did 2 off-plan investments in dubai. Both if them are with top notch developer. Very well known in Dubai. Not taking the name of the developers here.
Thanks a lot for your kind words glad you like the content 🙏🙏🙏. Banks fund handover payments for most of the private developers because the handover payment is technically due once the building is completed and at that stage the property is no longer off plan and is considered ready by the bank
What is the Business loan and car rate of interest (roi). How many diff loans are available What if I default and want 2 pay back after few years 2 come back to gulf countries.
Loan also possible to buy business as well ?
Very informative 😊 kudos
Thanks
Great video ever Watched
Thanks Man
Thank you so much for a very simple explanation for a very interesting subject. I like how you ask all the questions I would think about before buying property in Dubai 👍🏽
Thanks a lot 🙏🙏🙏 glad you liked it and found it useful the purpose of the content is to give value and answer most frequently asked questions
I love your style and way brother. Allah bless you Mashallah!
Thanks a lot for your kind words
Thanks a lot, it's so informative ❤
Glad you found it helpful 🙏
Non resident should keep in mind that they have to visit 2-4 times to complete the process
2-4 times are not required we have done it in one visit also
What is the ratio of debt burden to income?
Really good information
Thanks 🙏
Excellent questions
Thanks
Brilliant! Thank you
🙏🙏🙏
Hello Tahir, You are doing an amazing job, Please confirm when we are talking in millions is it USD or AED.
Hi thanks a lot 🙏 we are talking in AED
excellent
🙏🙏🙏
Great content
I am a non-resident Canadian 39 years old. What is the maximum percentage I can borrow for a ready to move unit. It was mentioned 60% maximum. That seems way too high!
Yes you can get 60% of the property value as a mortgage as non resident. You’ll need an minimum of 40% as down payment
@ thanks bhai. I would love to stay connected with you. Can we connect on LinkedIn?
@ yes definitely why not.
Good info, but hope all those who invest get a secure return. I haven't got a good experience in the past not once but lost twice by investing in property.
In dubai? What went wrong?
My home mortgage loan denied by one bank inspite of high salary excellent credit score what should i do now ?
You can reach Amit on +971 55 102 8311 he is the best to answer this
Thank you
What if you work for a family owned company. Will they treat you as self employed even though you are on a fixed salary?
Depends on the bank
@@tahirmajithia Can you please guide which banks offers mortgage of the above criteria of employed with fixed salary in family owned company,much appreciated
@@Ssis-z1h you can connect with Amit for detailed information his contact details are in the description
@@tahirmajithia sure Thank you that helps alot 😃
Very informative podcast. for NRIs who are buying 2 million worth of property, At what stage they would get the title deed, and also at what stage are they eligible to apply for a Golden visa? Please advise
You get the title deed when you purchase the property. For golden visa you can apply if your equity/ contribution in the property is 2 million Aed. If the total value is 2 million Aed and there is a mortgage then it’s not possible to get golden visa but say the property value is 5 million and your down payment is 2 million & rest is mortgage then you can get golden visa
@@tahirmajithia I doubt this is correct! As per my understanding one is not eligible to get a Golden Visa unless they have title deed on their name
@@bulljam8888 no it is. Even if you take a mortgage you still get a title deed the only thing is it’s mentioned that the property is mortgaged. If you have paid 2 million Aed and rest is mortgaged you still can get golden visa. I have already done it for my clients
And how much is the knwoledge fee? On that he you didn’t give a figure… thanks
Does anyone know if there’s any developers still offering rent to own, lease to own or payment plans on a ready property?
Not in todays market
What is the deposit for non residence and can get mortgage and sell for profit
Non residents need a minimum of 40% as down payment and yes they can get mortgage and sell for profit
In uk property value double in price for 10years how about in dubai?
In Dubai, for now as the real estate is booming the value of the property can be double within the short period of time as well or as per the demand. It will not take that long as in UK.
Hi Tahir, greetings from Canada Thanks for the video, it is very informative. I have a question, my brother is planning to buy a house in Dubai for Dhs 1 million. With the golden visa he is getting can he sponsor us his 2 sisters and give us residence visas? Thanks 😊
Thanks I am glad you liked it. If your brother buys a property he can’t sponsor you or your sisters, he can only sponsor his wife and kids and parents
@@tahirmajithia thank you. How about if the value of property is Dhs 2 million can he sponsor us his sisters? BTW, I have subscribed to your channel. It is very informative and provides good value.
@@mimiio5095 no even if it’s 2 million investment for a golden visa still only kids, spouse and parents can be sponsored.
Really informative podcast! Thank you. For residential mortgages based on salary multiples, is this based on basic or total salary? (Given that many employers in Dubai offer a basic salary along with an allowance to make the total monthly salary)
It's always based on the total
Nice video! I’ve heard that for non-resident buying off-plan it’s only possible to get a mortgage for 50% of the final handover payment. So let’s say I buy a 1 mln dirham off plan property with a 70/30 payment plan, I can only finance 150,000. Or can I get a mortgage for the whole handover payment of 300,000?
Whole handover payment.
@@tahirmajithia thanks!
What is the max Loan Tenure offered to non residents looking to purchase ready freehold properties under 1M AED?
The tenure can be 20-25 years depending on your age.
What is the salary criteria (min requirement for salaried person staying in UAE?
Minimum Aed 10,000/-
If you are self employed if you set up a business I thought you need 2 years before getting a mortgage
How much down payment is required for 25 years or 23 years tenure ?
The tenure doesn’t change the down payment requirement. If you’re a resident of Uae then you need 20% down payment and if you’re a non resident then 40-50% down payment
Sab kuch toh bak diya yeh bhi bol dete .. min salary requirement for mortgage is AED15K per month 😅
Hey Tahir, Quick question if I continuously invest into UAE real estate market will that guarantee me citizenship with the UAE ?
You get residency in UAE not citizenship
I’ve always seen others say that as well, hence after you finish your golden visa can you apply for permanent residency with the UAE government? I have another question, can the UAE government nominate you for citizenship? If you continuously invested into the country?
Hello Tahir.
I appreciate your content.
So, at the end of the day, If you purchase a home in Dubai, is it yours for generations?
Yes it’s yours for generations as it’s absolutely free hold
@@tahirmajithia even thought I’m a US citizen?
@@stevedorsey4234 yes doesn’t matter what nationality the property is yours forever
If you need mortgage then do contact me
How much would be an average 3BHK apartment worth?
Depends on the location as there are many places where celebrity has invested money and there are some places which is booming now.
Minimum Salary required to Apply for a Mortgage Loan??
Aed 10,000/- monthly is the minimum requirement
Wish they could have discussed Islamic mortgages
Noted will do one episode on that as well in sometime
Can a 70 year old non resident get a mortgage in UAE?
No unfortunately banks here don’t lend to any one above 65 years
Email address for the guest please
Amit.nainani@lionmortgage.ae
ibore? Does he really not know? He kept saying ibore
Hi Tahir,
Thank you for the info
I had a question in regards to early settlement
If i take a mortgage for 500000 at 5% for 25 years
The total il be paying for 25 years is 876900 including interest
But if i want to do an early settlement in the 37th month
Total loan already paid in 36 months in 105228 including interest
Now i decide to do early settlement
Do i have to pay 1% of the remaining principal amount or the total remaining loan amount (including interest)
For early settlement you have to pay 1% of the outstanding principal only
This is subject to the terms & conditions finalised at the time of sanction and before disbursement
Amit looks like Gabbar Singh (Amjad Khan) of Sholay, in his early years 😂
How about new cryptocurrency millionaires with poor paperwork and now wealth all of a sudden ?
Getting loans based on crypto income is not possible
Good video, feel free to check my mortgage videos where i explain in my own way the step by step the requirements for getting your first mortgage. Have a great day all!
halal finance?
Islamic finance is also available
@TAHIR MAJITHIA make a video on it , please
Getting a mortgage in uae is like winning the lottery close to impossible. Banks have unrealistic criteria in uae. Your employer has to be listed and bla bla… even if you are getting 70k + salary. They don’t have money to lend . Period. Looking for guaranteed applicants which doesn’t exist. You’re just barely scratching the surface with the info you provided. The real question you should be asking is, “explain in detail the vetting process for salaried individuals”. Stop giving false hope to people. Etihad credit bureau is a complete joke for a country with vague or non existent laws regarding consumer protection. It’s simple, what guarantee does a bank have on a customer with a 2 year visa ????!! Absolute zero transparency with the banks in uae. In the USA the banks drool over you being their customer, in UAE they make you feel like they’re doing you a favor same as this guy was treating you on your own UA-cam channel !
You’re totally wrong I have had clients with 10k salary also get mortgages and it’s not so difficult unless you are heavily leveraged already. Also non residents who don’t live in UAE get loans for properties easily.
@@tahirmajithia why don’t you prove me wrong if you’re so sure about what you’re saying ? Make another video and invite the same guy over and let him explain in detail what documents the banks want from applicants who work for small companies???
which is the best real estate company for new joiners to begin with, especially as an off plan realtor ?? and how many months backup one should keep? ??????????
You should keep 6 months backup before you join. It’s difficult to name one company because there are a lot of good companies but it also depends on where you feel comfortable working
🫡 much added to 🧠