Loan Program Dubai
| Rate | Starting at 6.99% to 8.5% |
| Term | 25 years, up to the age of 65 |
| Max LTV | 85% (Residents), 60% (Non-Residents) |
| Max loan amount | No Max |
| Second home allowed | Yes |
| Borrower type | Non-resident (clients who may or may not have Dubai residency but income OUTSIDE Dubai) |
| Loan costs | Bank Pre-Approval Fees: Dhs. 2,000 Bank Property Evaluation Fees: From Dhs. 3,500 to 5,500 (depending on type of property) Bank Processing Fees: 1% of loan amount Mortgage Conveyancing Fees: From 1% of loan amount onwards (subject to case) Dubai Land Department Mortgage Registration Fees (Government fees): 0.25% of loan amount Dubai Land Department Title Transfer Fees (Government fees): 4% of loan amount Dubai Land Department Trustee Fees (Government fees): Between Dhs. 4,200 to 5,200 Property Solicitor Fees (optional): From Dhs. 10,000 onwards |
| Annual fee | Mandatory Bank Life Insurance Fees: From 0.0180% of loan amount per month Mandatory Bank Property Insurance Fees: From 0.01% of evaluated property value per month |
| Lender fees | 2% lender fee may apply |
| Broker fees | from 1% of loan amount |
| Processing time | 4-6 weeks |
| Requirements | Minimum Salary Required: Dhs. 10,000 per month Validity of Pre-approval: 60 days Minimum Loan Amount: Dhs. 250,000 |
| Key selling points | Up to 30% partial pre-payments can be done for FREE each year Monthly installments repayment cycle Various asset types: House, Mansion, Building, and Plot |
| Note | Full Early Settlement: Principle outstanding + Dhs. 10,000 |
| GMG contact | khurram.asif@gmg.asia |