Why buy property in Dubai with us?

UAE lenders use Debt-Burden-Ratio (DBR) to calculate how much you can afford to borrow. Your DBR is your monthly debts (including any future mortgage payments) as a ratio to your monthly income.

Security cheques will favour the banks if the loan holder defaults on the instalment payments. They have the option of depositing the security cheque.

A security deposit 5%/10% of the Annual Rent is paid to the landlord by the tenant in advance. This fee is held in reserve to protect the landlord if in case the depositor fails on any contractual obligation. It covers Loss of Rent, Damage to the Property, Lost of Security Keys and Repairs that are not wear and tear.

Where your employer pays you a housing allowance, this can be considered when applying for a mortgage.

For example, if you currently live in company-provided accommodation and it is stipulated in your contract or salary certificate that you will be paid a housing allowance should you leave the provided accommodation, then the allowance you will be paid can be considered for your mortgage.

You will still be required to have the necessary down payment. Still, the allowance can contribute to your affordability and, therefore, can increase the amount you can borrow.

Bonus income can be taken into account when applying for a mortgage. If it is a guaranteed bonus written into your contract or salary certificate, it is more likely to be accepted. Still, discretionary bonuses can also be considered.

A No Objection Certificate – or NOC – is a legal document issued in the UAE. An agency, organisation, or other institution can issue it. As the name suggests, a NOC informs parties that the issuer has no objection to the holder conducting a specific action.

It is possible to get an insurance policy to cover you if you cannot make your mortgage repayments due to accident, sickness or unemployment (this can include redundancy). This type of policy is something other than what you will get through your bank when taking your mortgage. Instead, you must speak to an insurance advisor to arrange this policy. We can put you in contact with insurance advisors if this is something you are interested in.

Please note that this type of insurance is separate from the life insurance you must have to get a mortgage in the UAE.