2007-02-19 02:20:21 · 3 answers · asked by paul l 1 in Business & Finance ➔ Careers & Employment
Yes..., you have to be UAE resident to start with. The requirements you can easily find on the websites, the rates are more difficult to get.
Only lately more banks offer home loans... this is still quite new in the UAE. I know of 10 banks, see their sites on this real-estate page:
http://www.startpagedubai.com/real-estate.htm#Home_loan
Something that surprised me and you have to be aware of... every bank has certain projects / buildings where you can get a mortgage on. If you like a place first check if there is a loan available and what bank or 'finance house' is linked to it. because there are buildings that are not in a list of any bank at all.
And the second thing that can trick you and that you have to find out before you make your calculations: the maximum percentage you get on the value (70% to 90%) of the property is mostly not calculated according to the price you pay or the market value, but is taken from the original price that the property first is sold for. So if you buy from an investor (many times the case in Dubai, and with the shortage of properties they sell to you for lots more) than you have to pay the premium (the difference) completely yourself. The bank will not finance this in most of the cases.
2007-02-22 06:23:00 · answer #1 · answered by Astrid in Dubai 5 · 0⤊ 0⤋
you can get a mortgage with an international bank here for a place in dubai get on the net !
2007-02-19 02:31:09 · answer #2 · answered by FRANK W 2 · 0⤊ 0⤋
yes you can the developer or the realetate company will arange a finance company to do it for you some of the repetitive mortgage companies are:
AMLAK
TAMWEEL
RAK BANK
MASHRIQ BANK
ADCB BANK
2007-02-20 18:39:02 · answer #3 · answered by s3eed h 2 · 0⤊ 0⤋