Obtaining a pre-approval can take between 2 days to 1 week. The time may vary based on the individual bank’s processing times. Once obtained, the approval is valid for 30 to 60 days, depending on the lender’s policy.

While approaching your bank directly is common, it may not always result in the best mortgage for your circumstances. A qualified mortgage broker can ensure you get the best overall product by considering processing fees, valuation fees, and insurance costs, not just the initial rate. Brokers work with a wide range of lenders, meaning if one bank says no, another might say yes. Speak to our team for the best possible rate for you and your family.

UAE nationals: Minimum 15% down payment.

Expat residents: Minimum 20% down payment.

Non-residents: Minimum 40% down payment.

For property values over 5 million, an additional 5% is required.

Yes, non-residents can obtain a mortgage without living or working in the UAE. Rates and loan-to-values will differ from those for residents or nationals, but it is possible to buy property in the UAE as a non-resident.

A pre-approval is an initial assessment of your financial situation, resulting in a letter or email confirming your eligibility for a specified amount (subject to property valuation). A pre-approval lasts between 30 to 60 days from issuance, depending on the lender.

Generally, lending power is up to 7 times your fixed income, not exceeding 50% of your monthly salary. This can vary based on your credit profile. Existing credit cards, car loans, other types of borrowing, including existing mortgages can affect this. Speak to one of our qualified mortgage brokers for an accurate assessment of your borrowing capacity.