Posted on: 15-09-2015 in Mortgage & Property
Being an expat in Dubai gives you a great opportunity to start building towards your investment portfolio, growing your funds and securing a stable financial stance for your future.
One such investment is getting on the property ladder in Dubai. A mortgage is one of the most common and popular long-term investments. So how can an expat be sure they are getting the best mortgage deal available to them, and what things do they need to consider when buying their first property?
Prior to seeking mortgages and loans to purchase properties, it’s important to consider any expenses you may face in the future – especially when deciding how much you can afford to pay. Some of the most common questions lenders will ask applicants include:
The approval of a mortgage application depends on assessing your ability to make repayments within the agreed timelines. This will help you determine:
Lenders will also consider whether you could handle the interest rate applicable for the borrowing amount. As this is part of the financial assessment, it will help you see how any fluctuations in the rate would impact on your monthly repayments. This allows you to check whether you could still afford the selected mortgage deal if rates rise.
Holborn Assets Mortgage Hub
Getting on to the property ladder doesn’t have to be difficult. Specialist advice and assistance may be required to find the best available deals on the market. This is where we can help.
Sit down with one of our professional mortgage experts to factor in:
Holborn Assets has become one of the largest mortgage consultants in the UAE and internationally. The Mortgage Hub was established with the initiative to offer tailored consultations and advisory on mortgages, property investments, first-time purchases, buy to let, re-finances, equity releases and more.
The team possesses years of experience finding mortgages for expats in Dubai from a range of lending institutions in the UAE.
We have built strong relationships with our lenders and their underwriters, often being able to offer exciting mortgage rates for the retired which are otherwise not available for individuals on the open market.