Balance Transfer

Balance Transfer2024-04-26T13:36:16+00:00
Street view of Dubai with tall apartment buildings on either side

Optimize your Home Loan with Balance Transfer

A balance transfer involves transferring your existing home loan to another lender. Whether you’re seeking better interest rates, improved terms, or simply aiming to streamline your finances, balance transfer can help you achieve these goals. We can provide professional guidance to help you seek out a more suitable mortgage with better rates and terms.

Benefits Tailored for You:

  • Effortless Process: Smooth process for transferring your existing home loan to another lender.
  • Access to lenders: Our access to a wide network of lenders ensures you get the best choices possible for your balance transfer improving your rates, terms and monthly repayments.
  • Tailored Solutions: Personalized approach catering to your unique needs.
  • Transparent Approach: At Lion Mortgage, transparency is paramount. We provide clear information on rates, charges, terms, and associated risks.
  • Proven Track Record: Trusted expertise with a successful history in handling balance transfers.

We’re Here to Help – Contact Us

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Get answers to
common questions

Anybody with an existing home loan can choose to opt for a balance transfer if they are seeking a different lender, better terms, better rates etc.

To apply for a balance transfer in the UAE, you will need to provide documents based on your profile and the lender’s requirements. The standard documents usually requested include a copy of your passport, visa and Emirates ID, a salary certificate for proof of employment, and bank statements as proof of income. If you are a self-employed, you will also need to provide your company documents and company bank statements. Additionally, lenders would require you to share the property documents and a proof of your existing mortgage repayment history.

Lion Mortgage has crafted an effortless process. From application to loan approval and finalization of the balance transfer, we guide you every step of the way. Click here to get a broader overview of the process. You can always contact us to learn about the process in detail.

Lion Mortgage has crafted an effortless process. From loan application to final approval and disbursement, our team ensures a seamless experience tailored to your unique circumstances. You can contact us here to learn more about how we can help.

Yes, Lion Mortgage boasts a trusted expertise with a successful history in helping people secure the financing of their residential dream homes. Our market knowledge and experience ensure that you receive reliable and professional assistance throughout the process.

Your current lender may charge fees as applicable and in compliance to the regulations of the Central Bank of the UAE. Currently, the early settlement fee is regulated by the Central Bank and it is determined as 1% of the loan amount outstanding capped at AED 10,000.

To obtain a Liability Letter, you’ll need to inform your current lender that you are undertaking a balance transfer for your mortgage. This letter/ certificate is necessary to advance the process further with the new bank.

The three biggest advantages of a balance transfer are: Improved terms and conditions, lower interest rates, and enhanced cash flow.

Some essential considerations when applying for a balance transfer loan include Interest Rates, Fees and charges, Cost/ Savings analysis, and Legal & Regulatory Considerations. It is equally important to ensure that the balance transfer option aligns with your overall financial strategy and supports your objectives.

It is essential to negotiate and consider all options to ensure that the process of going through a balance transfer yields positive results for you. Our mortgage experts can negotiate on your behalf and make sure that your desired goals are achieved.

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Overview
Lion Mortgage

1907, Al Manara Tower
Business Bay, PO Box 25789
Dubai, UAE

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