Mortgages for First-Time Property Buyers
Embarking on a financial journey can be daunting. We simplify complex decisions like mortgage finance with expert guidance and personalized support.
Mortgage Finance
Al-Barakah Finance simplifies complex financial products through clear, concise language. Our tailored service programs cater to the unique needs of each client segment - empowering informed decisions that meet short-term and long-term goals.
20+ Banks
Residential to Commercial
First-time to Non-Resident
Our Mortgage Finance Services
The Right Mortgage for Every Situation
From first homes to commercial investments - we match you with the best-fit banks across a network of 20+ financial institutions.
Mortgage for Buying Residential Property
In the UAE, Al-Barakah Finance stands out amidst 20+ banks and financial institutions, offering customized mortgage solutions tailored to meet the unique needs of our valued clients.
Mortgage for Buying Commercial Property
We advise clients to prioritize commercial projects already vetted and approved for end-user financing by leading banks, streamlining the financing process and minimizing risks.
Transfer Existing Mortgage
Shifting mortgage rates may render your current terms unfavorable. Let us help you reassess and refine your mortgage strategy by transferring to another bank or financial institution.
Cash Finance Against Existing Property
Many individuals overlook the untapped potential of their property's equity, resorting to costly financing options instead. Access low-rate cash finance against your existing property.
Mortgages for Non-UAE Residents
UAE banks exercise heightened caution when financing non-resident clients, with only a select few institutions offering tailored solutions for this demographic. We know exactly who they are.
Mortgages Against Under-Construction Projects
Financing off-plan projects in the UAE requires expertise. Our established relationships with select banks enable exclusive mortgage solutions for under-construction properties.
Borrowing Framework
Mortgage Loan-to-Value (LTV) & Approval Architecture
UAE Central Bank LTV caps and eligibility criteria tailored for UAE Nationals, Resident Expats, and International Investors.
UAE Nationals
85%Max LTV Cap
First Property Under AED 5M
Minimum 15% equity down-payment required. Up to 25-year repayment tenor with fixed and variable rate options.
Down-Payment: 15%
Resident Expats
80%Max LTV Cap
First Property Under AED 5M
Minimum 20% equity down-payment required. Competitive 3-year and 5-year fixed profit rate packages.
Down-Payment: 20%
Non-Residents
60% - 70%Max LTV Cap
International Overseas Investors
International proof of income required. Pre-approvals granted prior to property search.
Down-Payment: 30% - 40%
Step by Step
Our Mortgage Application Process
Nine guided steps from your first conversation to receiving your keys - with an expert Relationship Manager at your side throughout.
- 1
Understanding Our Client's Needs
Speak with our expert Relationship Managers to discuss finance requirements and your financial situation, explore mortgage potential, understand costs and next steps, and receive pre-approval guidance.
- 2
Document Collection & Review
Our experts review and verify documents, clarify discrepancies and identify best-fit mortgage options. A nominal pre-approval fee (if required) is collected, typically credited against final approval.
- 3
Submission of Documents
If you've already chosen a property, we accelerate final approval by submitting property documents and proposing your case for final approval - streamlining the application process.
- 4
Bank Issues the Pre-Approval
The bank issues a pre-approval letter outlining loan amount, interest rate, tenure and conditions (if any). Validity is typically 30 to 90 days depending on the bank. Our experts guide you through fulfilling conditions.
- 5
Property Identification
Before signing the MOU, share the draft with us so mortgage commitments are safeguarded. Obtain essential documents from the seller: property title deed, SPA or Form F, floor plan and tenancy contracts (if applicable).
- 6
Property Evaluation
The bank assigns a valuation agency for an on-site assessment; the report reaches the bank within 2 to 3 working days. Evaluation fees typically range from AED 2,500 to AED 3,000 plus applicable taxes.
- 7
Final Offer Letter
After receiving the valuation report and completing pre-approval conditions, the bank initiates final approval. Our Relationship Managers jointly review the final offer letter with you before you sign.
- 8
Medical Test & Life Insurance
Typically applicable for high-value finance amounts where insurers require medical assessments prior to policy underwriting. Life insurance coverage ensures your loved ones' financial security.
- 9
Finalizing Your Mortgage
Verification of complete documentation, bank request for Developer NOC and coordination with all stakeholders. Our experts ensure seamless submission, timely NOC procurement and smooth completion.
Start your mortgage journey today with Al-Barakah Finance. Our experts ensure a seamless experience from application to completion.
Confidential · Compliant · Shariah-Conscious
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