• Dubai, United Arab Emirates

Description

Looking to transfer your balance or buy your first property in the UAE? Whatever your situation, we've got a choice of competitive mortgages. Plus, if you're buying a sustainable property you could qualify for our Green Home Loan discount on your rate.

Major Advantage: Lower interest rate

Main Features / Benefits

Interest Rates & Charges:

  • Reducing Rate (as advertised): Starting from 5.25% p.a.
  • Processing Fees: 0.525% finance amount (Nil for Buyout)
  • Property Valuation Fees: AED 2,625
  • Early Settlement Fees: 1% of outstanding amount or AED 10,000 (whichever is lower)
  • Partial Settlement Fees: 25% per year of capital balance without penalty

Financial Requirements:

  • Minimum Salary Requirement: AED 15,000
  • Minimum Length of Service Required: 6 months for salaried & 2 years for self-employed
  • Salary Transfer: Not compulsory
  • Minimum Down payment:
    • For first property (If property price < AED 5M): 20%
    • For first property (If property price > AED 5M): 30%
    • For second property: 40%

Key Details:

  • Islamic Finance: No
  • Maximum Term: 25 years
  • Finance available for: Ready properties in Dubai & Abu Dhabi

Insurance (Compulsory):

  • Life Insurance: Independent life insurance through Zurich only arranged by the bank
  • Property Insurance: 0.035% p.a.

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