Allsopp & Allsopp
Dubai-based real estate brokerage.
How much is my borrowing limit?
“As a general rule of thumb, the limit is calculated at 7x the annual salary of the applicant but it also depends on the bank. If the customer already has loans, credit cards and existing liabilities, then this ultimately affects the maximum amount they can borrow.”
View in the company profileWhat are the rates I should expect in the UAE?
“Rates differ greatly between bank to bank and will all depend on the customer's individual profiling and whether they're salaried or self-employed.”
View in the company profileCan non-residents avail financing in the UAE?
“Yes subject to individual client profiling as always. Maximum loan-to-value available for non-residents would be 60% funding with rates at this level starting from 3.89% for a 3-year fixed rate.”
View in the company profileWhat is the minimum deposit?
“For expat residents (first-time buyer): 20%”
View in the company profileWhat kind of documentation is required?
“For salaried applicants: ID documents, salary certificate, 6 months' payslips, 6 months' bank statements and details of existing liabilities.”
View in the company profile