GENERAL TERMS OF MORTGAGE FINANCING

Finance Amount: ₤25,000 to ₤30,000 (minimum)

Down Payment: 30%

Term of Financing (Tenure): 5 to 25 years

Mode of Payment: Monthly post-dated cheques or by standing order

Processing and Arrangement Fee: 1 to 2% of the finance amount
Age:

• 21 years (minimum)
• 60 years (maximum) upon maturity of financing
• 65 years for self employed

Income/Salary:

• For individual applicants: ₤1500 to ₤2000 per month
• For joint borrowers: ₤1800 to ₤2500 per month (total household income), subject to a minimum income of ₤1250 for one of the co-borrowers

Employment Status:

• Salaried: Confirmed employment for at least 1 year
• Business: Operating and profitable for the last 2 years

Documents Required:

• Completed application form
• Copy of valid passport
• Original Salary Certificate
• Bank statements for the last 6 months
• Details of the property
• Post-dated cheques or by standing order from other banks
• Original PSA (Purchase and Sale Agreement)
• Proof of down payments made to developer
• Liability letter from your bank

If you are self-employed, these additional documents are required:

• Copy of Trade License
• Audited financial statements for the last 2 years
• Copy of Chamber of Commerce Registration
• Memorandum and Articles of Association
• Company account bank statements for the last 6 months

Note: All prices and details are subject to change without prior notice.
All registered proprietors will be entitled to a UAE residence visa to be issued by the appropriate Dubai Government Authorities under their standard terms and conditions.
The developer will assist registered owners to obtain mortgage funding from participating financial establishments as per the existing policy terms and conditions related to the project and subject to status.

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