Eligibility

  • Listed Country

    You should be a resident in a country which is listed here in UAE Central Bank so you are able to get a home loan.

  • Income Sources

    applicant must either salaried or self-employed individual

  • Minimum Post Tax Income

    Applicant must meet a post tax income which is different from every money lender. Our Team have hundreds of local lenders to help you match with them.

  • Listed Real Estate Project

    Lenders are different and each has its own listed projects. We are here to make this step easy.

  • Down Payments

    20% of the property purchase price as a down payment if the property is worth up to AED 5 million. For properties above AED 5 million, the minimum down payment required
    from non-UAE nationals is 30%. However, some lenders in the UAE only finance up to 50% of the property value for non-resident applicants.

Secure your Loan and Enjoy your Dubai Life

With more than a 100 financial institutes to choose from , our team will tailor fit your home loan requirements to enjoy a hustle free opportunity of up to 20 million AED mortgage. Our team will fast get the approvals and secure the best financial terms to you and to your family

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Requirements

  • Column

    1. Valid passport
    2. 6 month Bank statements
    3. Tax returns
    4. Salary certificates or
    5. Trade license and audited financial statements
    6. Details of any existing loans

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.

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