Dubai Mortgages

There are few restrictions on property ownership in Dubai, provided you purchase in certain "freehold" areas. Freehold areas are designated regions where any non-Emirati citizen (Dubai resident or not) can buy property.

While limiting the areas non-Emirati citizens can own property might seem to restrict foreign property investment, the size and scope of Dubai mean that there is a substantial choice of properties. Dubai is well-known for its attractive schemes to entice foreign investment, and you will find that you are spoilt for choice regarding locations for your residence.

When it comes to Dubai mortgages, if you can, it makes sense to get in principle offers from lenders before you start your search. Enness can cater to any client from any location and with any background. However, these details will affect which lenders are best able to cater to you and what kind of mortgage vehicle will give you the most flexibility and the best terms and rates.

At the top end of the Dubai property market, niche lenders and private banks offer some of the best mortgage rates. When it comes to getting a mortgage in Dubai, Enness will start by understanding what you want from your real estate finance: which interest repayment rates, relationships and terms will be most beneficial to you.

Your broker will then look at your background and situation to see which elements will be most appealing to lenders and how to present these in the best light. Your background can affect how your broker will approach lenders: sometimes, it may make sense to negotiate with specialist lenders in your home country. Other times, international private banks will offer the most competitive rates.

While getting in principle offers in advance of purchasing Dubai property is generally advisable, you may have already found a property you wish to buy before you have secured offers from lenders. If this should be the case, your broker will be able to move quickly to negotiate and secure competitive mortgage rates that will allow you to move forward with the transaction.

Local lenders do offer mortgages for Dubai, but these are generally best for middle-market purchases. Some of Dubai’s retail banks may struggle to give you the most competitive rates if you are making a high-value purchase or if you are a non-resident with global income and assets, which often requires a slightly different approach when it comes to structuring lending. When buying high-value property in Dubai, a custom financing arrangement is likely to be your best option, given it can be constructed to meet your needs and situation.

Enness has a local team based in Dubai as well as a well-connected team based in several jurisdictions. Most importantly, your broker will be able to utilise your worldwide assets and your cash flow to minimise interest rates and deliver the best deal to you.

With access to more than 500 lenders, your broker will be able to approach any lender that offers Dubai property finance on your behalf. Whether you are looking at a relatively traditional mortgage arrangement or one involving overseas assets, trusts and companies, Enness will structure the deal around you and your needs.