Dubai Mortgage Market Update & Opportunities Q1 2015 - Home Matters
2015 is set to be a challenging year for the UAE mortgage market, with most banks committed to higher targets and property transactions continuing to slow. This will provide prospective buyers and existing borrowers with better lending opportunities as the banks battle over a smaller pool of business. As competition amongst the banks intensifies, consumers can expect lower interest rates and greater transparency in mortgage products. The UAE Central Bank mortgage regulation has also had a positive impact in softening house prices and most banks have standardized exit fees at 1% (maximum AED10,000) for early settlement of loans. Existing borrowers now have greater flexibility than in the past, where excessive penalties minimized the opportunity of securing better terms elsewhere.
Home Matters is delighted to showcase some excellent lending options for UAE residents, non-residents, first time buyers, equity release and refinance clients, along with UK, under construction and commercial mortgage solutions;
Why pay more? Move your mortgage to 2.99% and count the savings!
If you live oversees, secure a 50% mortgage with only 3 months bank statements and your passport
Buy your dream home with the lowest rates available in the market
If you have a small or no mortgage on your property, release up to 75% of the current market value to utilize the funds elsewhere
90% residential mortgages starting from 1.99%
secure 50% mortgage at 2.99%
Buy your own office or retail space with a 75% mortgage