Dubai Mortgage For Non Residents

Advantages of Dubai Mortgage for Non-Residents

The most obvious advantage of these loans is that they help you in financing a new property, but they also offer certain other advantages, like:

• You will not have to offer any kind of proof of income in the UAE.
• Several banks would permit prepayments for the loans at no charge.
• The rates of interest provided by the banks may be fixed or variable, depending on the policy of the bank.

These all benefits that can delight you in the process of Dubai mortgage for non-residents.

Eligibility Criteria of Dubai Mortgage for Non-Residents

You need to make sure that you meet the eligibility criteria first, before applying for a mortgage for non-residents. Keep in mind these criteria are a general rule and may vary between banks in the United Arab Emirates.

• You must be a citizen of a country that is on the bank’s list before applying for a Dubai mortgage for non-residents.
• You must be a salaried or self-employed person.
• Certain banks have age restrictions for applicants. For example, ABCD non-resident applicants must be above the age of 25 years.
• You will need to complete the bank’s minimum monthly income need; this may differ between UAE ex-pats and non-residents. Additionally, this minimum income requirement should be met after the tax deductions. For instance, ABCD requires non-residents to have a monthly income of at least AED 25,000 to qualify for their mortgage.
• Some banks also have a list of property developers and projects approved for mortgage financing. You must ensure that your property falls under this approved list.

Documents Required for Dubai Mortgage for Non-Residents

When applying for a mortgage for non-residents, you need to submit some documents. Remember, additional documents may be required depending on the property you purchased, as well as the terms of the transactions.

• Identity proof in the form of a valid passport
• Bank statements for the last six months. These may be required of individuals and companies alike.
• If you pay taxes then you will need to provide these returns also.
• If your country of residence has a credit rating system, a credit report will be required.
• Salary certificates and pay slips
• For self-employed individuals, audited statements, certificates of incorporation, trade licenses, and business profiles.
• These are all the essential documents that you need to prepare. We can help you to complete the process of documentation for Dubai mortgages for non-residents.

How We Can Help You

We have a team of experts who will guide you properly and understand your entire requirements. We provide you with the best possible services and help you to obtain a mortgage in Dubai, processing your work according to your needs.

Mortgage consultants will work closely with our dedicated transaction department to help you manage the entire mortgage process, from initial product advice to the legal transfer of property. We can also provide you with a professional mortgage manager who will meet you, provide you with expert advice, and assist you.