FAQ's

You should get pre-approved before searching for a property. It strengthens your position when negotiating with the seller, as they know you’re financially ready and have already initiated the process with the bank.

While upfront fees may be low, you could end up paying more through higher interest or exit charges.

Once all required documents are submitted, mortgage pre-approval typically takes 3–4 working days for employed individuals and 8–10 working days for self-employed applicants. Processing times may vary if the bank requests additional clarifications.

Most bank pre-approvals are valid for 30 to 90 days. You can extend or revalidate your pre-approval by submitting updated documents to the same bank.

Yes, non-residents can obtain financing in the UAE. However, terms and conditions may differ, and interest rates are often slightly higher compared to those for residents.

Mortgage affordability is calculated differently by each bank, but generally:

Income Considered: Banks typically use around 50% of your monthly income.

Deductions: From this, they subtract other credit commitments, such as car loans, personal loans, and roughly 5% of all your credit card limits.

Stress Test: Banks apply a stress interest rate (usually between 3.5% and 8%) to ensure you can still afford repayments if rates rise.