Got questions ?

The best time to buy is when you can afford it. It is recommended not to time the mortgage rates and property values, as they are difficult
to predict.

The pre-approval is generally valid for 30-90 days.

The maximum loan-to-value ratio for properties under AED
5 million is:
85% for UAE Nationals
80% for UAE Residents
For properties above AED 5 million, it is:
75% for UAE Nationals
70% for UAE Residents

Yes, you can. You would, however, need to inform the bank if you plan to move away from the UAE permanently. This will help both parties decide how to proceed with the mortgage

Most mortgages allow prepayment or additional payments. Some loans may have prepayment penalties, so it's crucial to review your loan agreement. Making extra payments can help reduce the loan balance and interest paid over time.

Affluent ensures the entire process of securing a mortgage goes as smoothly as possible by dedicating a Mortgage Advisor to help simplify the process. We also ensure you get the best and personalized offers from 20+ leading banks.

Yes, you can. There is no limitation until the mortgage eligibility permits.

Yes! Self-employed applications are analysed based on the company structure and performance.

Mortgage rates are dynamic and they keep changing, you can always reach out to us to get the current rates

Off-plan property mortgages are available. However, the maximum loan-to-value for off-plan properties is 50%.

No, you can get pre-approved even before finalizing a property. It can actually help you negotiate better deals by showing your seriousness.

You can access 70% of your property value with the help of equity release. You can use these funds to purchase a new property, upgrade your existing loan, and business cash flow.

Residual financing refers to a mortgage product that allows buyers to finance additional costs associated with purchasing a property, beyond just the purchase price. When buying a property, buyers typically incur extra expenses such as 4% land department fees and 2% brokerage fees.

Some banks in the UAE offer to cover up to 80% of these additional fees within the mortgage term. This financing option is specifically available for new property purchases, making it easier for buyers to manage upfront costs.

In the UAE, a salary transfer offer can impact your mortgage repayments in the following ways:

• End-of-service gratuity: If you opt for a salary transfer, your employer will provide an undertaking to the bank that any end-of-service benefits you receive upon leaving your job will be transferred to the bank. This serves as a guarantee for the mortgage payments.
• Preferential rates: Some banks may offer slightly lower interest rates if you choose to transfer your salary to them. However, whether these discounted rates are advantageous depends on your specific situation. It's best to consult with mortgage experts to determine if the savings justify the salary transfer.
• Job changes: If you switch jobs while having a salary transfer mortgage, the bank may freeze your end-of-service benefits until you provide proof of continued employment and ability to make mortgage payments.

Many prefer a non-salary transfer mortgage as it avoids potential complications if you change jobs or move out of the UAE. The slightly higher interest rate (typically 0.18%) is often considered worth it for the added flexibility and lack of restrictions on your end-of-service benefits.

In the UAE, there are primarily two types of interest rates for mortgages: fixed rates and variable rates. Fixed rates remain constant throughout the loan term, providing stability in monthly payments, which is beneficial for budgeting.

In contrast, variable rates are calculated on the outstanding loan amount, meaning the interest decreases as you repay the principal, often resulting in lower overall interest costs over time

Interest rates for mortgages in the UAE usually start around 1.49% for fixed rates and can go up to 7.63% for variable rates, depending on the lender and the borrower's profile. Understanding these options is crucial for prospective buyers in the UAE's competitive mortgage market.

To conduct a credit score check in the UAE, you can follow these steps:

1. Visit the official website of the Al Etihad Credit Bureau (AECB) or download the AECB app available for both Android and Apple devices.
2. Register for an account by providing necessary details, including your Emirates ID and passport number.
3. Once registered, you can request your credit score by paying a fee of AED 84 for online requests or AED 105 for walk-in services.
4. After processing your request, you will receive your credit score report within a few minutes.

Understanding your credit score is essential, as it plays a significant role in determining your eligibility for loans and mortgages in the UAE.