Loan Against Property for expats in Dubai, UAE
Why do people prefer to get a Loan against Property in UAE?
People travel to Dubai to work in its diverse sectors from the US, Saudi Arabia, the Persian Gulf region, India, Pakistan, and other nations. Small companies and entrepreneurs can find chances in the city.
You could occasionally find yourself in need of financial support as an expat living and working in Dubai. Obtaining the necessary finances for a personal emergency or commercial venture can be facilitated by applying for a loan. Emortgage is a top supplier of loans against property (including residential, commercial, freehold, investment, and investment properties) to foreigners residing in Dubai. We can assist you in obtaining the money you require quickly.
We provide various repayment options and low rates, so you may customize your loan to meet your needs. Additionally, you can apply for your loan from the convenience and tranquility of your own home because we offer online services.
Emortgage is the ideal option if you’re seeking for a loan against property in Dubai, United Arab Emirates. Whether you are a resident of the UAE or an expat, we can assist you in obtaining the money you require. We provide:
- Competitive prices
- Adaptable terms for repayment
- Little processing costs
- A straightforward online application procedure
- Quick preapproval and financing
So don’t hesitate to get in touch with us right now if you need a loan. We’ll make it simple and quick for you to obtain the money you require.
Are expats allowed to buy property in Dubai, UAE?
When visiting Dubai, many visitors ponder if they would be able to purchase real estate there. Yes, foreigners are permitted to purchase real estate in Dubai. There are a lot of benefits to doing this. You will be able to benefit from the city’s thriving real estate industry, to start with. Additionally, you’ll be able to keep more of your earnings because Dubai is a tax-free city.
Getting a mortgage is another benefit of purchasing real estate in Dubai. This can assist you in spreading out the expense of your purchase over a longer time frame, which will lower the cost.
Features of Loan against property for expats
Foreigners are free to use loans against property anyway they see fit. But it’s crucial to remember that this is a loan, and you should treat it like one. This implies that you will have to pay back your debts on time in order to avoid losing your belongings.
Among the characteristics of foreigner loans secured by property are:
You have a choice of one to five years to repay the loan.
Financing costs on credits against property are typically lower than individual advances. Variable-rate credits might be offered, so it’s critical to think about contract rates before you apply.
You can acquire up to 80% of the worth of your property.
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Documents required to take Loan against property for expats
In order to apply for a loan in Dubai secured by real estate, you will require the following paperwork:
- Both your visa and passport
- Your ID from Emirates
- Evidence of income (bank statement or salary certificate)
- Utility bill or rental contract as proof of address
- Credit history
You can apply online or in person at one of our branches for a loan against property once you have all the necessary paperwork. After reviewing your application, we will respond to you with our decision within 48 hours.
Eligibility criteria for loan against property for expats
In order to qualify for a loan in Dubai secured by real estate, you need to:
- Age range: 21 to 65
- Own a minimum monthly income of AED 12,000
- Work in the United Arab Emirates for a minimum of six months.
- Possess a solid credit history
- Not owe any money at all
The requirements for qualifying for a Dubai loan secured by real estate may differ based on the lending institution. For this reason, it’s advisable to speak with the lender before applying.
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