Secure the Home of Your Dreams with Our Personalized Financial Solutions
Eligibility
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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.
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Income Sources
applicant must either salaried or self-employed individual
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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.
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Listed Real Estate Project
Lenders are different and each has its own listed projects. We are here to make this step easy.
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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.
Brochures & Floor Plans
For Home Brochures and Floor Plans, You can WhatsApp Us Your Request or Schedule A Meeting with One of Our Client Managers To Take you though The Brochures and Floor Plans and Answer all your Questions. Schedule A Meeting at One of Our 21 Locations in Dubai & UAE or One of Our Client Managers Will Meet you at your Home or Office.
Schedule a Meeting At Your Nearby Comfort In One of Our 21 Office Locations All Over UAE
Requirements
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Column
- Valid passport
- 6 month Bank statements
- Tax returns
- Salary certificates or
- Trade license and audited financial statements
- Details of any existing loans
Purchasing Cost (We can help adding this cost to your Mortgage)
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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.
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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
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Mortgage Tenor
- Residential Up to 25 years
- Commercial Up to 15 years
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Mortgage To Value
60%
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Mortgage Rates
Combination of Fixed (1-5years) and Variable Rates based on EIBOR with a minimum rate on reducing balance.
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Income Profile
Finance Available to Salaried and Self-Employed profiles
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Permanent Dubai Leave
You can leave even if you have mortgage.
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Buy in the name of Spouse
lender may ask to see your marriage certificate
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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.
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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.
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Early Settlement
Early Settlement, 1% of the remaining balance.
Premier Heights offers you
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- Legal Presentation
- The Best Mortgage Options
- Fast Preapproval
- Property Related Documents Ready
- Investment Management
- Property Management
- Property Development
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