Mortgage Guides

Mortgage Guides to Simplify Every Step

Simplified mortgage guides to help you secure the best loan with ease.

Speak to a Certified Mortgage Advisor

Start by chatting with a licensed mortgage broker or a reputable brokerage with access to multiple UAE banks. A good advisor helps you evaluate interest rates, life/property insurance requirements, and Loan‑to‑Value (LTV) options, saving you both time and money by tailoring financing to your full circumstances.

Secure Your Pre‑Approval (Valid 60–90 Days)

Once your documents (ID, salary statements, bank statements) are submitted, the bank issues a pre‑approval letter. This outlines the maximum loan amount, estimated interest rate, tenure, and allowed down payment. It also prevents over‑commitment and empowers confident property selection—even before signing the MOU.

Valuation & Conditional Offer

After you sign the Memorandum of Understanding (MOU), the bank orders an independent valuation of the property. They’ll lend based on the lower of the valuation or selling price, so expect to cover any shortfall using your own funds. The valuation report confirms whether the property meets the lender’s criteria.

Receive & Review the Final Offer Letter

The bank reviews the valuation and finalises your mortgage offer. The offer letter will list the exact loan amount, interest rate (fixed or variable), schedule of repayments, and any insurance you must purchase. Your advisor will walk you through it.

Deposit, Insurance & Disbursement

After you accept the offer, the bank sets up your account and disburses your portion of the down payment and any fees (e.g. processing, borrower life/property insurance).
The lender issues manager’s cheques to:
- The seller or developer
- The seller’s bank if clearing an outstanding mortgage

Property Transfer at DLD Trustee Office

You and the seller (or your agents) meet at a Dubai Land Department‑approved trustee office for final transfer. Required payments include:

The balance of the purchase price (via manager’s cheque),
4% DLD transfer fee for Dubai,
Mortgage registration fee (~0.25%),
Trustee office admin fee (AED 2K–5K).

The seller must also present:

A No Objection Certificate (NOC) from their developer (if reselling),
All service charges cleared.
Once everything is verified, the DLD issues a new title deed in your name, with a lien recorded if your mortgage is still active.

Receive Title Deed & Ongoing Mortgage Management

You officially own the property when the new title deed is issued. But be aware:

The bank retains the original title deed until your mortgage is cleared.
You must maintain mortgage life insurance and home insurance for the loan’s duration.
If interest rates drop or your loan has a variable rate, consider refinancing or early settlement (but check penalty clauses first).

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