Case study: Mortgage handover payment for non-resident

He was taking a gander at acquiring an off-plan property where handover was planned for mid-2020. The customer came to us preceding purchasing the property, he needed to ensure he would probably get a home loan to cover the last handover installment before he focused on putting resources into a property in the UAE.

The property price was AED 40M and the customer was putting down AED 20M upfront to the developer, so he required a home advance for the rest of the remaining of AED 20M due upon handover.

As the customer was putting down an enormous entirety preceding handover and required a significant loan amount, he made it obvious he needed a full last offer contract with the bank as opposed to simply pre-approval before he pushed ahead with the purchase.

We took a shot at benefit of the customer to guarantee he verified the essential finance for the buy. The bank which offered the customer the best home loan required a full record process which included three years evaluated financials in two distinct purviews, noteworthy expense forms and deciphered bank proclamations. We took care of everything for the customer and worked enthusiastically to make the entire procedure as simple as feasible for him as he was not in Dubai to supervise it himself.

We figured out how to verify a mortgage for the required amount. The rate was 4.99% EIBOR following rate over a multi-year term, which is an average rate for a non-inhabitant mortgage. We additionally arranged a decreased bank course of action charge of 1% and the customer further spared as the home loan we verified enabled him to profit of an outside life coverage approach as opposed to the bank’s very own strategy (as extra security is a necessity of any home loan in the UAE).

We take a shot at sake of numerous non-resident customers, each with various conditions and shifting obtaining necessities. We ensure that we set aside the effort to comprehend their circumstance so we can exhort them on the best mortgage alternatives and make the entire procedure as simple as could be allowed!