Documentation

Documentation and process and time changes from bank to bank and customer profile and requirement.

It is advisable that customer acquire pre-approval prior to finalizing the property in order to safeguard themselves, pre-approval usually takes about 2-3 days in case of salaried customers and 7-10 days in case of self-employed customers.

Salaried Customers

  1. Passport copy with valid UAE residence visa.
  2. Idbara Page/Family book/ khulasat khait(UAE National)
  3. Emirates ID copy (Front & Back)
  4. Salary letter
  5. Last 6 months Pay slips
  6. Last 6 months bank statements
  7. Details of Loans/credit cards in personal name
  8. MOU/Form F (incase if property is finalized)
  9. Title Deed with floor plan
  10. Seller`s passport copy
  11. Pre-approval/valuation fees (as per bank)
  12. Processing fees (charged at the time of final offer letter signing)

Self-Employed Customers

  1. Passport copy with valid residence visa
  2. Idbara Page/Family book/khulasat khait(UAE national)
  3. Emirates ID copy (Front & Back)
  4. Trade license copy
  5. MOA/AOA of company
  6. Share certificate (in case of free zone company)
  7. Last 2 years Audit Financials/Last 12 months company bank statements
  8. Last 6 months company bank statements
  9. Last 6 months personal bank statements
  10. Facility letters(company)
  11. Details of loans/Credit cards in personal name with valid proof
  12. MOU/Form F (incase if property is finalized)
  13. Title Deed with floor plan
  14. Seller`s passport copy
  15. Pre-approval/valuation fees (as per bank)
  16. Processing fees (charged at the time of final offer letter signing)

Interest Rates

Interest rates are varying from bank to bank and customer profile and transaction we shall offer you the best available options based on your profile and requirement and you can choose the options which suits your need.

For a standard product of property purchase approximate fixed costs of bank and Land Department are as below which varies from Bank to Bank and DLD charges will be actual at the time of executing the transfer/transaction.

  1. Pre-approval fees (AED 1000) plus VAT
  2. Valuation fees (AED 2500 to 3000) plus VAT
  3. Life insurance (0.4% to 0.6% on the loan amount) per annum
  4. Property insurance (0.04% to 0.06% on the property price) per annum
  5. Processing fees (0.5% to 1% on the loan amount)
  6. Land Department Transfer Fees (4% of the property purchase price)
  7. Trustee fees (AED 4000 + VAT)
  8. Real estate commission (2% of the property purchase price + VAT)
  9. Mortgage Registration Fees (0.25% on the loan amount)
  10. Title deed fees (AED 580/-)