How a Mortgage Works in Dubai

☎️ Contact an expert: ins.is/whatsapp
Got questions about getting a mortgage in Dubai? You're not alone! We've gathered the top questions from our clients and turned them into a video guide. Can a non-resident get a mortgage in the UAE? What are the main types of mortgages available in the UAE? What about the eligibility criteria?
Want to know more on this topic? Watch the video. Our expert Firuz Khalid provides detailed insights.
00:28 Can a non-resident get a mortgage in the UAE?
01:15 Types of mortgages in the UAE
02:16 Eligibility criteria
02:46 Who is monitoring the credit score?
03:30 Is it possible to sell a mortgaged property?
04:16 Getting a mortgate for off-plan property
05:54 Mortgage fees
07:26 Can you settle a mortgage early and with no fees?
09:30 Mortgage refinancing
10:48 How many mortgages can you get?
11:17 Age restrictions
11:49 What if you couldn't pay your mortgage?
Company website Inside: insiderealty.a...
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Contact an expert: ins.is/whatsapp
#dubai #realestate #uae

[@user-em9hg2bx5k]

Thank you for this valuable and interesting information 🙏

[@DJTHA-RO]

Very informative, thank you!

[@SW_Sherry]

I have one Qs that i would like to clarify. For example, i invested in off plan 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 a mortgage bank for 80% loan then will the 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 the appreciated value which is 640k and out of this 650k, will give 350k remaining value to developer and 290k will pay to me?
Lets say i bought one off plan property.
- payment plan is 50/50
- Current value/price is 700k
- I will pay 350k till the handover
- At hand over I will apply for mortgage
- after 3 years lets say the property value reached to 800K.
- Bank will pay me 80% of 800K which is 640k.
- Out of 650k, bank will pay remaining 350k to developer
- and will pay the remaining 290k to me.

[@insiderealty_ae]

That’s an interesting question! Each case is treated differently so we would love to connect you to our mortgage advisor to give you the best advice. Kindly send us a dm with your contact details and we will be happy to help 😉

[@ByronCoetsee]

Great video! Thank you!
I'm in the process of buying a property from Emaar - I've paid the $10k booking fee (which is apparently refundable if I decide to back out). My question is, they're telling me I have to pay the 1st instalment + Land Registration fee (total 14%) before I can apply for a mortgage. What if the mortgage terms are unacceptable for me? Can I back out? I've been told I can and I'll get all my money back but it's a huge amount to just trust the property agents word.
I've also been told I'll get 4.2% and, despite my income being very complicated, I'm borderline guaranteed to get the mortgage accepted. This all feels a little too good to be true, hence my suspicions.

[@insiderealty_ae]

Thanks for your comment Byron! We usually advise our clients to obtain a pre-approval first to ensure that mortgage can be granted before making such a commitment. Unfortunately it seems like the agent is just trying to push you into a deal and refund cannot be guaranteed as that’s not usually part of standard terms & conditions. We’d be happy to look into the particulars of your case and give you a second opinion 😉

[@expresslausanne526]

Can you make video for foreigners as well ? Am from switherland and want to buy property from Dubai.

[@insiderealty_ae]

Of course we will make this kind of video. You can also read our article about mortgage in Dubai: www.linkedin.com/posts/insiderealtyae_all-about-mortgages-in-dubai-accessibility-activity-7152303620145778688-S0dR?

[@2217909]

If someone buys a commercial land can they get loan to build ?

[@gayanliyanage2806]

If I have a mortgage on a property and decide to sell that and get another property, can I transfer the same mortgage to the new property or do I have to close the current mortgage (at which point I will have to pay the fees associated) and start with a new mortgage itself? Thanks

[@insiderealty_ae]

Yes, to sell the property you or the new buyer will have to settle the mortgage. You’ll have to pay an early settlement fee that’s correct. If you want to get more details please dm

[@mednaimi9174]

Have the banks removed age limit? Thanks.

[@insiderealty_ae]

The minimum age limit is generally 21 and the maximum term is up to age 65 for employed expats or 70 for UAE nationals and self-employed expats.

[@afazmoopan5648]

Can we choose an islamic mortgage and rent out the property? SIince you mentioned that the property will be owned by the bank.

[@insiderealty_ae]

Yes, of course, this is just the technical side of things. Essentially, it is your property.

[@adnanshabbir9548]

Can we get golden visa via islamic mortgage

[@insiderealty_ae]

Yes, you can get a Golden Visa. To qualify under the property investment route, investors are required to acquire property in the UAE valued at AED2 million (c. USD550,000) or above

[@HadeelAlmaliki]

Hi .. can you please advise if the banks will give only the net payment loan for the house or they will include everything like agency feee trustee fee DLD and whatever else ? Or we have to pay that from our end ? Appreciate your response

[@insiderealty_ae]

Hi Hadeel! Yes, some banks do offer to cover the extra fees. Please get in touch with us if you need to find a property and we will help you with the mortgage ins.is/whatsapp

[@dubairealestate3951]

Registration of the buyer's mortgage with DLD is the responsibility of?

[@insiderealty_ae]

Sorry we didn't respond for a long time. Usually a mortgage broker can help with such questions.

[@aza_palms6833]

Hi What do you mean by being a resident? Will i get mortgage 80% if from USA but i live in Dubai?

[@insiderealty_ae]

A resident is a person who has a visa in Dubai. This can be a work visa, green, blue, gold. If you live in Dubai, you are highly likely to get a mortgage 80%

[@nehakalpeshkantchheda7088]

Hi how much % we get on 1st rented property if 2nd property is under construction. We r residents

[@insiderealty_ae]

Hi Neha! Are you referring to interest rates?

[@shahnawazshahnawaz2920]

2:43. 15000 Dhs per Month or annual salary

[@Firuzkd]

It’s 15,000 Dhs per month brother

[@insiderealty_ae]

It’s 15,000 per month

[@lgtag]

Is salary necessary for the approval? Or is it enough just to have money in the bank and no income? (for example 1 mil USD)