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Mortgage Providers
Dubai & Overseas
This page covers the
following topics:
Mortgages for Dubai
properties, mortgage providers for property in Dubai, Dubai
Home Loans, Mortgage for non-resident in UAE Dubai, UK banks
offering mortgages in Dubai, Dubai home loans, Barclays
Overseas mortgages, Barclays bank Dubai mortgages, Barclays
Dubai, HSBC Dubai, Lloyds TSB Dubai, Mashreq Bank mortgage
for non resident, Dubai Mortgages British buyers, mortgages
in Dubai for British UK residents
Damac Mortgage Advisory service:
Please note that some content on this page is from external
websites or leading to external websites and advertisers and
hence we are not responsible for this content.
1. What is the DAMAC Mortgage Advisory?
The Mortgage Advisory at DAMAC Properties Co. L.L.C is
engaged in facilitating and procuring mortgages exclusively
for DAMAC clients all over the world.
2. How does it help me?
The Mortgage Advisory helps you in procuring the most
suitable loan for your home or office. Our Mortgage Advisors
will hand-hold a DAMAC customer or prospect and suitably
facilitate the mortgage process with the lending
institution.
3. Who can use the services of the DAMAC Mortgage
Advisory?
Any UAE resident or non-resident who has already purchased
or considering to purchase a DAMAC residential property can
use the services of the Mortgage Advisory. UAE-established
businesses can also avail our services for financing their
commercial property developed by DAMAC. (Commercial property
finance is strictly available to UAE-established businesses
only). Loans are however granted at the discretion of the
lending institution.
4. Which banks/home finance companies can I expect the
loan from?
The Mortgage Advisory will assist you in procuring one of
the best mortgages from any of the following banks/home
finance company (hfc):
Abu Dhabi Commercial Bank
Al Wifaq
Amlak
Arab Bank
Badr Al-Islami
Commercial Bank International
Doha Bank
Mashreq Bank
Mawarid
National Bank of Abu Dhabi
Noor Islamic Bank
Union National Bank
United Bank Limited
5. Are Shariah compliant options available?
Yes, Shariah compliant Islamic mortgages are available (for
residential property only) from Islamic finance
institutions, Amlak, Badr Al-Islami and Mawarid.
6. Do I need to pay for availing the services of the
Mortgage Advisory?
No, there is no payment associated with this service. DAMAC
offers this service to its customers free of charge.
7. Can I check my loan and then decide the property?
Yes, pre-approval facility is available. You can check the
extent of your loan before finalizing the property.
8. How soon can I expect my loan to be approved?
It will take a maximum of 10-12 working days to get the
approval / pre-approval for your loan, subject to submission
of all required documents.
9. Can I get a mortgage for any DAMAC project?
UAE resident customers can avail mortgage loan options for
the following residential projects:
|
S.No |
Mortgage
Lenders |
Project |
|
1. |
Al Wifaq / Commercial Bank
International / National Bank of Abu Dhabi / Union
National Bank / United Bank Limited |
All residential projects |
|
2. |
Arab Bank / Doha Bank / Mawarid |
All residential projects in Dubai
|
|
3. |
Abu Dhabi Commercial Bank |
All residential projects except
Lincoln Park and Tuscan |
|
4. |
Mashreq / Badr Al Islami |
Emirates Gardens 1 & 2, Lago Vista,
Lake Terrace, Lake View, Lotus 1, Ocean Heights,
Park Towers, The Crescent. |
|
5. |
Noor Islamic Bank |
The Waves, Marina Terrace, The
Crescent, Lake View, Lake Terrace |
|
6. |
Amlak |
Lago Vista, Ocean Heights, Park
Towers, The Crescent |
UAE non-resident
customers can avail mortgage facility options for the
following residential projects:
|
S.No |
Mortgage
Lenders |
Project |
|
1. |
Al Wifaq / United Bank Limited |
All residential projects in Dubai |
|
2. |
Arab Bank / Mawarid |
All residential projects in Dubai |
|
3. |
Doha Bank (for residents of Qatar
only) |
All residential projects in Dubai |
|
4. |
Amlak |
Lago Vista, Ocean Heights, Park
Towers, The Crescent |
|
5. |
Mashreq / Badr Al Islami |
Emirates Gardens 1 & 2, Lago Vista,
Lake Terrace, Lake View, Lotus 1 Ocean Heights, Park
Towers, The Crescent |
Please
contact us
for further details.
National Bank of
Dubai expands mortgage lending to UK customers
NBD partners with
leading mortgage advisor John Charcol to target UK residents
purchasing property in UAE
Press Release – Dubai, UAE, 5 July 2007
National Bank of Dubai
(NBD) has today announced a tie up with the leading United
Kingdom based mortgage adviser,
John Charcol, to
provide finance to UK residents interested in purchasing
residential properties in UAE.
NBD is one of Dubai’s leading banks and among the top
mortgage finance providers in the UAE. The mutually
exclusive tie up with John Charcol will not only provide
mortgage finance to UK residents investing in UAE but will
also provide re-financing to UK residents who have already
invested in the Dubai residential property market. On offer
are mortgages for residential properties, both completed and
under construction, from 14 reputable developers who are
approved by NBD.
“Today’s announcement represents NBD’s continuing commitment
to the mortgage business in the UAE,” said Suvo Sarkar,
Group Head – Retail Banking, NBD. “ As one of the leading
retail banks in the country, this tie up with a John Charcol
is part of NBD’s innovative approach to providing flexible
products to a maturing home finance market, and to
diversifying our customer base.” continued Mr. Sarkar.
John Charcol was established in 1974 and is currently the
leading UK independent mortgage adviser with a choice of
4,000 mortgages from over 100 UK lenders.
Duncan Banks, Sales
Director, John Charcol stated “This is an exciting advance
for us. We are delighted to be working with NBD on
delivering another innovative and unique solution for UK
residents and their financial needs. It’s a great start to
our new operation which will be opening in Dubai shortly and
represents our first overseas expansion”.
Borrowers in UK will benefit from the consultation expertise
of John Charcol and the real estate market experience of
NBD. NBD’s mortgage products under this partnership have
been specifically designed to fit the needs and requirements
of the UK market borrower, with competitive pricing,
financing up to 70%, fast application processing and
customer service arrangements from within the UK.
John Charcol has won numerous awards during its 33 years in
the industry including its most recent awards “Best Mortgage
Broker 2007” awarded by Mortgage Strategy and “Best Overall
Mortgage Broker 2007” by What Mortgage.
NBD was recently awarded the “Best Retail Bank in the UAE”
award by The Asian Banker. It offers a comprehensive range
of retail lending products including mortgage loans, auto
loans, personal loans, credit cards and loans for business
finance to UAE nationals. In the area of mortgages, it
provides home loans, office loans, home re-finance loans and
loans for self-construction of property.
Click here to contact National Bank of Dubai
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Lloyds
TSB International Mortgage Service
At Lloyds TSB they know
how difficult and time consuming buying a property overseas
can be. Their International Mortgage Service has been
designed so you can enjoy all the benefits of owning a home
without any of the fuss.
Their mortgage is
designed for customers purchasing properties outside their
country of residence. They can only provide mortgages for
owner occupation in Hong Kong and Singapore.
Their do not normally
provide mortgages for serviced apartments, resorts, golf
course properties, student accommodation or former local
authority or public housing. Other restrictions related to
property use may also apply and details are available upon
request.
Their
expert mortgage advisors will discuss all your requirements
and are on hand to help you every step of the way.
All about the
International Mortgage Service
-
Personal mortgages for
investment, buy to let and holiday homes in over 10
jurisdictions - Great
Britain, Spain, France, Portugal, Dubai,
Hong Kong, Singapore, New Zealand, and selected
locations in Australia, Canada and the USA. We are
unable to provide mortgages for property used as a
primary residence.
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Multi-currency loan facilities
– They
offer mortgages in all major currencies euro, sterling,
US dollars, Swiss franc Canadian dollars, Australian
dollars, New Zealand dollars, Hong Kong dollars,
Singapore dollars (Singapore dollar earners only) and
Japanese yen (yen earners only).
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Competitive interest rates.
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Free pre-approved financing
with their Advance Credit Line. If you
have not yet purchased your property,
their Advance Credit
Line service could be an invaluable tool. It's a free
service that can provide you with an idea of the amount
of finance available to you before you commit to a
purchase.
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100% financing available
(subject to credit status and additional security).
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A choice of repayment methods to
suit your needs - A
competitive range of variable rate mortgages are
available in all major currencies mentioned above,
together with attractive fixed rates in Sterling-Paid
quarterly in arrears.
-
No Early Repayment fee
- No penalties for prepayment (except for fixed interest
rate loans) and early repayment should normally coincide
with the interest rollover date.
-
Free currency switching option
- When currency options are offered, two free switches
per calendar year.
-
No Buy-to-let penalty
- No additional charges or increase in interest rate
-
Valuation and Tax Referral
Service
Please note that they are
unable to provide finance for property used as a primary
residence.
Please read their
Important Information
Apply or find out more
about Lloyds TSB's International Mortgage Service
Barclays
Launches Dubai Mortgages
Dubai
02 May 2006:
Barclays Bank today announced the launch of
mortgages in Dubai that have been specifically
designed to meet the requirements of buyers in
the Emirate’s booming property market. The
new mortgage range will be available in four
different currencies (UAE dirhams, pounds
sterling, Euro and US dollars) and will be
approved within 24 hours. Barclays will be
the first mortgage provider in Dubai to offer
customers an extensive number of currency
options and quick mortgage approval.
David
Roberts, board member of Barclays PLC and chief
executive of the bank’s International Retail and
Commercial Banking operations, said; “Barclays
has clearly stated its international ambitions
and Dubai is an attractive, fast growing market
in which Barclays wishes to grow. Today’s
launch of new mortgage products in Dubai is a
tangible example of how we are using our proven
global expertise and competitive advantage to
develop innovative product propositions that
benefit our existing and new clients.”
In February
2006, Barclays announced its intention to
increase the proportion of profits it generates
from outside the UK to 50 per cent within three
years, from 40 per cent in 2005. The new
mortgages will be offered by the banks
international retail arm, International Retail
and Commercial Banking, which is focused on
growing Barclays presence in attractive markets,
including Dubai. International Retail and
Commercial banking operates in 21 countries with
over 10 million customers and 46,000 employees.
Barclays is
offering the following mortgage products to UAE
residents
and
non residents:
-
Owner-occupiers wishing to buy a completed
home ready to move in
-
Off Plan
Buyers looking at homes that are planned or
under construction
-
Buy-to-Let mortgages for prospective
landlords
Philip Ward,
Barclays’ Head of Mortgages in Dubai says “Dubai
is maturing into a home-owning environment, and
Barclays expects to shake up the market with its
strong product range and customer-focused
service levels. By bringing our experience,
multi currency and service driven approach that
has been developed over many years, we are
confident that our mortgages will be very
attractive to Dubai home buyers, whether home
owners or investors.”
Barclays is
one of the world’s leading banks and Barclays
has the largest presence of any UK bank in the
European non resident mortgage market, serving
mortgage customers through its operations in
Spain, France, Portugal and Italy. Barclays is
also one of the UK’s leading mortgage providers
with a mortgage book of GBP 59.6 billion (AED
387.4 billion) and the leading mortgage provider
in South Africa following its acquisition of a
majority state in Absa. Building on this
experience, today’s announcement further
strengthens Barclays international mortgage
credentials, with the addition of Dubai to its
portfolio.
Barclays
mortgages in Dubai will be available from a
minimum
of AED 500,000
up to a maximum of AED 7.5 million, in
areas where all nationalities are allowed to own
residential property.
All mortgages
will be available in four different currencies –
UAE dirhams, pounds sterling, Euro and US
dollars. For sterling, dollar and euro loans,
customers are expected to have an income source
in the same currency. Thereafter, the principle
will be sanctioned and drawn down in AED and
then converted to the foreign currency.
In another
benefit, a team of expert mobile Barclays
mortgage advisors will meet customers to discuss
the best mortgage for their requirements. The
Advisors will travel around Dubai in
Barclays-branded Minis. Loan approvals will be
made within 24 hours, at competitive interest
rates (all rates indicated below are variable
rates).
Mr Wards
adds; “With the recently announced changes
in the property law ownership in Dubai,
specifically with regards to non resident
ownership, and the ongoing highly positive
economic climate in Dubai, we believe that now
is exactly the right time to bring our breadth
of international mortgage experience to this
market”. “We have examined the marketplace in
great detail, and we believe that our products
will hit the right note with prospective buyers”
Click here to go to Barclays Buying Abroad
website
Back to top
MASHREQ BANK
The
Home Loans offer from
Mashreq
-
Dedicated Mortgage
Relationship Manager
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High loan amounts of up
to AED 5 million
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Loan Tenors of up to 25
years for both employed
and self-employed
individuals
-
Up to 90% finance on
selected properties
Click here for our Home Loan
FAQs
Developers
& Projects |
Home Loans
Home Loans from Mashreq offer you simple and
convenient access to the best range of home
loans in the market. With the widest network of
developers and low downpayments, our aim is to
make the process of buying a home as simple as
possible.
Our experienced representatives will visit you
in your own home or workplace, to provide a
full, free consultation, taking you through the
application process. With nominal proceesing
fees, the Mashreq Home Loan is the right choice
when you are looking to buy your home.
Mashreq Home Loan facilities provide
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The widest selection of approved developers
includes Nakheel, Emaar, Dubai Properties
and GIGA
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Home loans that are available to both UAE
residents and non-residents.
-
A range of re-finance and home equity
options
-
Mortgage take-over and buyouts from other
financial institutions and banks.
|
|
Click here
to contact Mashreq Bank |
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Buy to Let Mortgage
Find impartial advice and
information on buy to let mortgages where whole of market
mortgage brokers do the searching for you at
1000mortgages.co.uk. Also includes information on other
property issues for landlords and home buyers
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