Mortgage in uae-Mortgage financing in Dubai mortgage in uae, UAE – banks in UAE, providing quite actively the mortgage financing  in UAE before the crisis, and noticeably decreasing the volumes of mortgages at the time of the crisis, started lately to actively provide mortgage financing again.

As a rule, the main criteria to receive the mortgage financing for a physical person in AAE are the UAE residency visa, employment contract  / salary certificate with the required salary level which shall be sufficient to cover the mortgage payments and the bank statement for last 6 or 12 month.

For legal entities one of the core documents would be the company’s balance for last 2 or 3 years and the company account statements. Another important factor for the bank would be the type of the business of the company and the steadiness of the company profit received.

In case of a mortgage for a physical person as well as of a mortgage for a legal entity the important factor for the mortgage would be bank’s evaluation of the property market value. This is the reason why, quite often, it is easier to receive the mortgage financing for the property of the large developer which is known to the bank by its construction quality rather than for a property built by a small and unknown developer. It is also important to outline that the mortgage financing is provided mostly to the fully completed properties or the properties nearing the completion. Average mortgage loan rate  in UAE ranges from 5,5% to 7% per annum.