Residential Mortgage

Residential Mortgage2024-04-26T13:15:46+00:00
Street view of Dubai with tall apartment buildings on either side

Unlock Your Dream Home: Discover Our Residential Mortgage Solutions

With the UAE being one of the most popular destinations in the context of global real estate, opting for a residential mortgage is a lucrative option not only for UAE Nationals but also for expatriates and non-residents. Whether you are buying a new property directly from a developer or in the secondary market, our customized mortgage solutions are designed to make the process easy, flexible and efficient. As independent advisors, we add value with our unbiased expert opinion and access to the entire lending market.

Benefits Tailored for You:

  • Effortless Process: Smooth process for owning a home in the UAE with residential mortgages.
  • Minimal Documentation: Streamlined, hassle-free process for salaried or self-employed individuals.
  • High Loan-to-Value:  Up to 80% loan-to-value flexibility on residential mortgages for Expats and up to 85% for UAE Nationals.
  • Tailored Solutions: Personalized approach catering to your unique needs.
  • Transparent Approach: At Lion Mortgage, transparency is paramount. We provide clear information on rates, terms, and associated risks.
  • Proven Track Record: Trusted expertise with a successful history in delivering residential mortgages.

We’re Here to Help – Contact Us

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Get answers to
common questions

All eligible UAE Nationals & Resident Expatriates as well as non-residents can apply for a residential mortgage.

Applicants are required to be of legal age i.e., a minimum of 21 years old, while the maximum age at the maturity of the loan is capped at 65 years for Expats Salaried and 70 years for Expats Self Employed and UAE Nationals.

To apply for a residential mortgage 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 self-employed, you will need to provide additionally your company documents and company bank statements. Last, all lenders would require you to share the property documents.

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.

Yes, non-residents can apply for residential mortgages, although the terms may vary.

Interest rates for residential mortgages vary based on market conditions and lender offers. A wide range of competitive fixed and variable rates is offered by banks and Lion Mortgage is committed to working with you to secure the most favourable terms for your mortgage.

The maximum DBR is 50%

The maximum loan tenor you can get is 25 years subject to the maximum age at the maturity of the loan (cap of 65 years for Expats Salaried, and 70 years for Expats Self Employed and UAE Nationals).

The maximum loan amount depends on various factors, including the lender’s policies, the applicant’s financial situation, the debt-burden ratio, the value of property being financed and the loan-to-value applicable. In addition to the regulatory criteria of multiples of income which mandates that the maximum loan amount is capped at 7 times of annual income for Expatriates and 8 times for UAE Nationals.

Early settlement of your mortgage is allowed, and the early settlement fee is 1% of the loan outstanding amount capped at AED 10,000 as per UAE Central Bank regulations.Partial settlement is allowed in general and depends on the lender’s policies and terms.

Yes, it’s possible to secure a residential mortgage with a less-than-perfect credit score, although it may affect the terms and interest rates offered. Our mortgage advisors specialize in helping clients with diverse credit profiles find suitable mortgage solutions and improve their financial standing over time.

To kick-start the process, you can reach out to Lion Mortgage through our website or contact our dedicated team. We are here to guide you through the application process and address any queries you may have.

to ensure that you make an informed decision aligned with your financial goals and circumstances, it is essential to consider several factors such as assessing your financial situation, the stability of your income, the impact on inheritance, etc. Lion Mortgage recommends seeking legal advice to fully understand your contractual obligations, legal rights and responsibilities.

Expert Insights

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+971 4 4474 710

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If you wish to start your mortgage application process and receive a free eligibility assessment, book an appointment with us.
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We are an independent mortgage service provider based in Dubai, licensed by the DED & RERA.

 

Overview
Lion Mortgage

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

© 2024 • Lion Mortgage •

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