Mortgages in Dubai for your property in Dubai
Getting a Mortgage in Dubai
Dubai is particularly popular with British investors because of the strength of the Pound to the UAE Dirham. In recognising the potential opportunities in financing in Dubai property the UAE banks are committed in developing a competitive mortgage market.
There are no non-status mortgages.
All applicants must supply proof of income during the last 5 years and your last six months personal bank statements.
If you are self employed your last 5 years audited accounts and copies of both your last 6 months personal and 12 months business bank statements will be required.
Projected incoming based on proposed rental income will not be considered.
The amount available for borrowing is based on your net monthly income. All monthly outgoings including your Dubai mortgage repayments should not exceed 35% of your monthly income.
Loans up to 25 years.
Depending on valuation or purchases price of property (the lowest), you can borrow up to 60% of the value for purchase.
Loans are available for people up to the age of 60 at the end of the loan term.
Major Banks
Dubai Bank www.dubaibank.ae/html/default/default1.htm
Commercial Bank of Dubai www.cbd.co.ae/
Dubai Islamic Bank www.alislami.co.ae/en/index.htm
Good luck getting your mortgage in Dubai!