There has never been a better time to take out a mortgage in the UAE; which many resident expatriates are now taking advantage of.
Having worked together successfully for many years Emirates Realty Homes recommends MENA Mortgage Services. Emirates Realty homes recommends MENA Mortgage Services having worked together successfully for many years. They have 29 lenders eager to lend and products which are becoming increasingly competitive; on a daily basis. In 2008 lenders tended to offer one mortgage product on a variable rate of around 9%. Today not only can one realistically obtain a variable rate of around 4-5% but the banks now accommodate for fixed rates allowing consumers to fix the interest rate for up to 7 years. Giant leaps towards offering consumers a bespoke solution!
Buying a property in the UAE does require a minimum down payment of 15% and in addition one expects to pay around 5-6% in fees. By using MENA Mortgage Services (one of the few qualified licensed mortgage brokers in Dubai) you guarantee the most suitable solution for your circumstance and ensure there are no hidden surprises.
Whilst 29 lenders will finance residents of Dubai wishing to purchase a property in the UAE, the same cannot be said for non residents, with few offering such finance. Non residents can expect to pay interest rates from 6.5% and should budget for a 30% downpayment. The fee’s non residents can expect to pay are the same as residents and once again for a nonresident the use of MENA Mortgage Services in Dubai is pivotal to guide them through the maze!
MENA Mortgage Services make 10 core commitments :-
- Your consultant will call you EVERYDAY once you have proceeded with an application.
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- No fee shall be taken if a loan is not approved.
- Your consultant will hold CEMAP qualification which is the professional qualification needed to arrange a mortgage in the UK.
- Your consultant will hold a degree from a British university.
- Your consultant will hold RERA accreditation
- Your consultant will have more than 5 years experience in the UAE property market.
- Your consultant will recommend to you the most suitable financing options for your individual circumstances for you to then choose.
- Your consultant will guide you through the process until transfer.
- Your consultant will not make restrictions on the developer or development which you choose to purchase through.
- Your mortgage consultation is free and confidential.