A credit score is a number between 300 and 900 that evaluates how trustworthy you are with credit. A higher score increases your chances of loan approval and qualifying for lower interest rates. Credit scores are determined using formulas and algorithms. While these methods can vary among credit bureaus, they generally assess similar factors including…Read More→

In the dynamic landscape of personal finance in the UAE, leveraging equity and exploring equity release options can provide significant opportunities for individuals looking to enhance their financial flexibility and unlock liquidity from their property assets. What is Equity?Equity refers to the portion of the property’s value that you truly own, minus any outstanding mortgages…Read More→

What is a Loan Against Property?A loan against property involves using your property as collateral to obtain financing. Typically, you can borrow up to 120% of your property’s value, though this may vary based on the lender and your individual situation. One of the primary benefits of securing a loan against property in the UAE…Read More→

Dubai is well-known for its thriving economy and robust business environment, making it an attractive destination for entrepreneurs and businesses looking to expand. One of the vital financial instruments available to facilitate business growth and establishment in this dynamic city is the commercial mortgage. What is a Commercial Mortgage? A commercial mortgage is a loan…Read More→

The Debt Burden Ratio (DBR) is a key figure that lenders evaluate when determining if a loan applicant qualifies for a loan. Although each bank or financial institution has its own specific criteria for eligibility, there are some common factors that all lenders consider, such as the debt-burden ratio and the applicant’s credit score. The…Read More→

1. Should You Apply for a Mortgage Before or After Finding a House? Many people think that applying for a mortgage is something to tackle later in the home-buying process, but that’s actually not the best approach. We recommend starting your mortgage search right at the beginning of your journey to find the perfect home….Read More→

Current Mortgage Rates in UAE As of 2024, mortgage rates in the UAE start from 3.75% influenced by factors such as the mortgage type (fixed or variable), the borrower’s credit profile, and the banks. Currently, the lowest fixed-rate is 3.75%, while variable rates begin at about 0.70% + 3 Month EIBOR. With the expected rate…Read More→

A mortgage preapproval is a process that assesses how much you can borrow for buying a home. Before issuing a preapproval, a lender reviews your entire financial situation, including details about your income, assets, and credit score. To facilitate this, you’ll need to provide specific documents required by the lender to prove your ability to…Read More→

Off-plan property in Dubai describes a residential unit that is still being built and is not yet finished. As an investor, you buy the property based on its architectural plans, design specifications, and a model unit. You will receive the keys only after the construction is completed according to the terms outlined in the Sale…Read More→

Mortgage applications can be rejected when applicants fail to meet all eligibility requirements, which are designed to assess their reliability and suitability as borrowers. Understanding common reasons for rejection is essential, as it can help applicants take proactive steps to prevent it from happening. Here are several factors that may lead to the rejection of…Read More→