Right move Mortgage Consultants in uae
We at Right Move Mortgage Consultants in uae know that buying a home is a Dream and we strive to give you the best experience to achieve the same. Following are the moves you shall make to secure a mortgage:
First Move – Initial Contact
We believe in Personal Interaction and would suggest meeting our Mortgage Consultants to thoroughly understand your requirements so as to achieve the best possible product available in the market suiting your needs. Also to further discuss the finance requirement, your existing residency, credit history and the property you are looking to acquire and your mortgage expectations.
Also you will be informed with interest rates, all charges involved and documentation part for Pre-Approval.
Second Move – Collection of Documents & Review
Once you understand and approve our services we will then collect all relevant documents needed to be submitted for processing. The list of documents will entirely depend on your profile whether you are employed, self-employed or Non-Resident.
The Documentation provided by you is thoroughly reviewed by the Mortgage Advisor and you will be informed for any further clarifications or if any additional supporting are needed for completeness. This move is very crucial to avoid any delays for securing a Pre-Approval from the selected Lender.
Third Move – Search & selection for Best Product
After documentation part is done, we then search and select the best available products that suits your need, you will be given multiple options and will be discussed personally, one on one, to provide pricing and make you understand each shortlisted option in simple terms, so you can choose a product that serves you right.
Fourth Move – Applying for the Pre-Approval & Its Validity
After your satisfaction and right selection of the product, we then apply for Pre-Approval which generally takes around 3-5 working days unless there are any changes in Bank’s Policy within that period which we will communicate with you on a daily basis.
Once you are Pre-Approved by the Bank the validity varies from 30 days minimum to a maximum of 60 days.
Fifth Move – To identify the Property & its Valuation
We at Right Move will want to make sure that before you sign the property purchase MOU with your Real Estate Agency, hence we request you to share the MOU draft so we can ensure that you are adequately covered with reference to your mortgage finance and the same has been taken into consideration while deciding the validity of the MOU. We also keep you thoroughly informed regarding documents required by the bank for final approval and its process. Bank will do an evaluation of the property to determine its real value and basis of final Mortgage Approval.
It will be reviewed by our Mortgage Advisor with you since it will have all the details regarding your final approved amount, your product terms and conditions, the EMI.
Once satisfied with it you can accept the same.
Sixth & Final Move – Transfer Property at DLD
The NOC is requested from Developer via Seller and Medical Test Requirements, if any are to be provided.
Bank will prepare for transfer of your property as per MOU and settle the Seller’s Loan, if any or release the funds i.e. Approved finance amount to seller once the Title Deed is issued by Dubai Lands Department and you will be the Proud Owner of that Property.