Journey Towards Owning A Home via Mortgage

  • 1. Define Your Goals

    Start by determining your budget, what you’re looking for in terms of property size, features and location. Asses your financings such as credit score, current savings and income. Our team Help you to pick a property suits your location & Features needs and calculating your Mortgage amount required.

  • The Value We Add in Step 1

    Choosing the ideal property does not always require a higher cost; our team prioritizes aligning your needs with the perfect property at the most competitive market price. We are expert at filtering out overpriced properties, Low priced properties due to issues, Owners Negotiation, Developers Relations and more ..

  • 2. Get A Pre-Approval

    we highly recommend getting your mortgage pre-approval first before setting out on you property search journey. Our team will collaborate with you to make sure all the documents are available, then provide you with the best financial solution and get the Pre-Approval within 5 - 10 working days.

  • The Value We Add in Step 2

    We have access to the whole UAE mortgage market and work with all lenders to make it easy for you to compare offers and find the right mortgage for you. We have a Relationship to 100+ of money lenders in Dubai and we can provide the best solution deal in the market for you ...We can also negotiate the interest rate that you will pay on your purchased home.

  • 3. Find A Home

    Our team will tailor a home solution based on the features that you are looking into your future home and matching your budget and your payments mood.

  • The Value We Add in Step 3

    Let's be real here, Selecting a property out of the market to consider it for living or investments, need market expert knows Dubai very well, High ROI Areas and projects, Trendy Projects, Market Prices, Property Status, Legal & Government Policies, Negotiator, Deal Closer, Documents Clearance and after care purchase services and more. You can relay on us on that having a special relationships to Dubai Developers and Property Owners.

  • 4. Offer & Negotiation

    You know your budget, you secured a pre-approval, you’ve found the perfect home within your budget. Our team will negotiate in your behalf and trying reducing the home purchase cost on you.

  • The Value We Add in Step 4

    Dubai & UAE Market price is an open book for us, Negotiation and Offer is key for you to get a deal. We are expert in this regard.

  • 5. Finalize Your Financing

    You know your budget, you secured a pre-approval, you’ve found the perfect home within your budget. Our team will handle the process of securing the financing required and the process of the home ownership.

  • The Value We Add in Step 6

    Dubai & UAE Market have clients will quick purchase the property before other can think to have a chance in this. We are here to secure your deal and hands-off any competition. Experience and time to close your opportunity to secure your dream home is our strength.

  • 6. Power Of Attorney

    In order for our team to handle your documents in Dubai, a legal document called Power Of Attorney (POA) is required to complete both the financing & the home ownership. POA types are :

    • Durable POA
    • Limited POA
    • Springing POA
    • General POA

  • The Value We Add in Step 6

    Process where all the legal documentation between buyer and seller is co-ordinated. This includes arranging NOCs from the developer, deposit holding, final settlements, right the way through to title registration and transfer.

  • Why we care ?

    Real Estate Market is based on reputation and networking with the community, also your home can me managed by our company, Investment management, Property Management & Property Development. Not only this, we can do business together in Dubai with our huge network of investors too. So Having a home is just a starting point between you and us.

Mortgage & Payments Options in the Market

  • Off Plan Mortgage

    1. Enter a Payment Plan Project.

    2. Mortgage The balance at the handover

  • Islamic Mortgage

    Buying the property on your behalf and leasing it back to you for a profit.

  • Ready Home Mortgage

    Standard Mortgage

  • Payment Plan From Developer

    We can offer a property for you to pay it over the years directly to the project builder. This can starts from 1% from the property value depends on the developer.

  • Payment Plan From Owners

    Some home owners are reselling there homes on a payment plans. This is usually under development homes.

  • Mortgage to Buy a Land

    We can help you in this

  • Mortgage to Buy a Land & Build a home

    We can help you in this too.

  • Equity Release

    Non resident owners of UAE property may unlock up to 50% of the value of their UAE property quickly and easily with minimal
    documentation.

  • Commercial Financing

    You finance purchasing and office or retail shop. We help in that too.

Purchasing Cost (We can help adding this cost to your Mortgage)

  • Down Payment Fee

    If the property costs under AED 5 million, the down payment is 20% for expats and 15% for UAE nationals. However, if the property is over AED 5 million, expats have to pay a 30% down payment, while UAE nationals would pay 25%. We can negotiate this sum for you too.

  • Land Department Fee

    4% of Property Value + AED 580
    One time fee paid to the DLD (Dubai Land Department) for registering the Real Estate transaction.

  • Trustee Fee

    AED 4,000 + VAT
    Fee charged by the trustee office for facilitating the property transaction on behalf of the DLD.

  • Bank Processing Fee

    0 – 1% of Loan Amount
    Fee levied by the bank for the processing of the mortgage application. This is normally charged before Final Offer issuance.

  • Mortgage Registration

    0.25% of Loan Amount + AED 250
    Fee levied by the DLD for the registration of a mortgage against the property. This is charged on the day of transfer.

  • Real Estate Fee

    2% of Property Value + VAT
    Fee charged by Real Estate agent for services rendered. This is usually paid on day of transfer.

  • Valuation Fee

    AED 2,000 + VAT
    Fee paid by the buyer for the purpose of assessing the current market value of the property.

Required Documents

  • Self Employed

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Mortgage Process Timeline

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Important Terms & Notes

  • Mortgage Tenor

    • Residential Up to 25 years
    • Commercial Up to 15 years

  • Mortgage To Value

    60%

  • Mortgage Rates

    Combination of Fixed (1-5years) and Variable Rates based on EIBOR with a minimum rate on reducing balance.

  • Income Profile

    Finance Available to Salaried and Self-Employed profiles

  • Permanent Dubai Leave

    You can leave even if you have mortgage.

  • Buy in the name of Spouse

    lender may ask to see your marriage certificate

  • Mortgage security cheque

    Fail to make repayments on your mortgage. Your lender will present the cheque and when it bounces, they can initiate legal proceedings to take your property to pay off the
    outstanding debts.

  • Title Deed

    The original title deed document is kept with the lender until the mortgage is fully paid.

  • Freehold Vs Leasehold

    Freehold ownership : Property Owner owns both building and land in perpetuity.

    Leasehold ownership: Owner owns the building only, the land is owned by the ‘landlord’ and is leased to the property owner for 99 years.

  • MOU

    A Memorandum of understanding, which you may see referred to as a FORM F is an agreement set by the real estate agent, which outlines all the necessary terms and conditions signed by the seller and buyer while purchasing the property.

  • Early Settlement

    Early Settlement, 1% of the remaining balance.

Premier Heights offers you

    • Legal Presentation
    • The Best Mortgage Options
    • Fast Preapproval
    • Property Related Documents Ready
    • Investment Management
    • Property Management
    • Property Development

  • Requirements

    • Copy of passport, and visa
    • Salary Certificate / Company Credit Report
    • 6 Months Bank Statements
    • Self employed can have a mortgage
    • Life insurance needed before releasing the funds, lender can provide this.

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