Expert adviceThey will explain the buying process in depth, from fees and timescales to how much you can borrow and walk you through the application step by step.
Better ratesThey will find you the best deal in the market and obtain the best bank rates for your to consider. The best brokers will take the time to explain how you can reduce the amount of cash required by (legally) loading fees onto the mortgage.
Financing pre-approval supportA mortgage broker will take care of the entire purchase journey for you, removing the time and complexities of securing a mortgage.
Faster processGet financed faster. Using a mortgage broker can fast track processing times.
Easy way to quickly estimate your monthly mortgage on any property.
Note: Estimated monthly payment based on a 0 AED loan amount with a 4.5% fixed interest rate for the entire duration of the loan
What is a mortgage and how does it work?
A mortgage is a loan that a lender extends to a home buyer to help finance the purchase of a property.
How are monthly mortgage payments structured?
Monthly mortgage payments are split into 3 parts: the principal, interest and insurance. The principle is the amount that goes towards the equity of the property, the interest is the rate charged to obtain the loan, and insurance is a mandatory addition to all mortgages.
What is collateral?
The property you purchase acts as collateral. This means that if you fail to repay the mortgage, the lender can take possession of the property and sell it to collect any money owed to them.
How much can I borrow from a bank?
This will depend on your personal circumstances, such as your salary and existing liabilities. Have a chat with our mortgage advisor who will be able to advise you based on your circumstances.
What is my loan limit?
This is dependent on your personal circumstances, so you would need to speak to our mortgage advisor for an accurate answer.
What is the benefit of overpaying on a mortgage?
If you overpay on your mortgage repayments, you will pay off your mortgage faster and pay less interest over the term (use our early payoff calculator to get the sums). So overpaying can be beneficial.
Is there a circumstance when it is better to not pay off your mortgage faster?
If you have a low-interest rate and you put your money towards higher-interest investments, it might make sense to keep the mortgage ongoing while using capital to earn more money on higher-interest investments.
How long is the processing time for mortgage approval?
This is dependent on your personal circumstances. Typically, it takes around 2 weeks to get pre-approval and up to 2 weeks after signing MOU to get the final offer letter. Have a chat with our mortgage advisor who can give you realistic timeframes based on your circumstances.
What are fixed-rate mortgages?
Fixed rate mortgages are where the interest rate charged on the loan stays the same for a certain period of time, usually 1,2,3 or 5 years. During this time your monthly mortgage repayment will not change.
What are variable-rate mortgages?
Variable rate mortgages are where the interest rate that you pay on your mortgage will change based upon changes to the EIBOR rate. This means that your monthly repayments can change over time.
What is amortization?
Amortization is a schedule that shows you how much of your mortgage payment goes against the capital and how much goes against interest. This allows you to work out how much interest you will save by making extra payments over the tenure of the mortgage.
What is a mortgage tenor?
This is the total length of the mortgage. The maximum length in the UAE is 25 years and is based on its affordability. This can be discussed with your mortgage advisor and confirmed by the bank.
I still don’t understand some things about getting a mortgage, what should I do?
We strongly recommend speaking to our mortgage advisor. They will tell you everything you need to know about getting a mortgage and guide you through every step of the way.