Professional, transparent mortgage advisors

A mortgage is a type of loan used to finance the purchase of real estate. The buyer will pay a deposit towards the property (usually about 20% of the purchase price), and the mortgage service provider will then lend them the rest of the money. The buyer will then make monthly payments, which include both the borrowed amount and interest, over a set period (typically 15 to 30 years). The property serves as collateral for the loan, meaning it could be repossessed in the event that the buyer fails to keep up with the repayments. 

There are a number of reasons why you should use a mortgage broker instead of going directly to a bank. Here are 6 reasons why you should use a mortgage broker in Dubai: 

• Access to multiple lenders: Mortgage brokers have access to a vast network of lenders, allowing them to find you the best deal. 

• Expert advice: Mortgage advisors can offer valuable insights into the types of loans available, the best mortgage interest rates, and the ideal terms for your financial situation. 

• Time saving: Trying to compare mortgages can be very time consuming. Using a mortgage broker in the UAE will save you lots of time and streamline the process.

• Custom-solutions: A mortgage broker will take time to understand your specific situation and help you secure the right mortgage for your needs. 

• Negotiating power: Brokers often have strong relationships with lenders and can use this to negotiate better interest rates or loan terms.

• Simplified process: Brokers handle most of the paperwork and admin involved in the process of how to get a mortgage property in Dubai, making your life much easier. 

There are several types of mortgages available. This includes fixed-rate mortgages, adjustable-rate mortgages, interest-only loans, and Islamic financing. The best mortgage type for you depends on your financial situation and long-term property goals. Our mortgage advisors can explain the different types of mortgages and help you choose the right option.

The amount you can borrow depends on your income, credit score, and how much you plan to put down as a deposit. A mortgage can be no greater than 7 times your annual income and lenders in Dubai will require a down payment of at least 20% for residents and 40% for a non-resident mortgage. Our mortgage brokers in the UAE will assess your financial situation to help you determine how much you can borrow. 

The most commonly required documents include a valid passport or Emirates ID, proof of income (such as salary slips), bank statements, and property-related documents. Our team of mortgage brokers in Dubaiwill guide you through the documents you will need for your application. 

Interest rates are influenced by various factors, including the type of mortgage, the length of the loan, your credit history, and central bank interest rates. Your down payment and the loan-to-value (LTV) ratio are also important factors. We work directly with mortgage service providers to ensure you get the most competitive rates.

Missing mortgage payment can result in penalties like additional interest charges, negatively impact your credit score and could eventually lead to your property being repossessed.  If you think that you might miss a payment, it’s crucial to speak to your lender immediately. 

Yes, it is possible to pay off a lifetime mortgage early, but some lenders may charge an early repayment fee. It’s vital to review the terms of your mortgage agreement before making early repayments to avoid unexpected charges.