Frequently Asked Questions
Mortgages
What is the minimum deposit for a mortgage in the UAE?
For UAE nationals, the minimum deposit is typically 15% for a first property under AED 5 million. For expatriates, it is generally 20% for properties under AED 5 million. Properties above AED 5 million or second properties require higher down payments.
What is the minimum salary required for a home loan in Dubai?
Most UAE banks require a minimum monthly salary ranging from AED 10,000 to AED 15,000, depending on the lender and whether you are salaried or self-employed.
What is the interest rate for a home loan in Dubai?
Interest rates vary based on market conditions, loan types, and whether you choose fixed or variable rates. Square Mortgage Consultants compares over 500 products to help secure competitive market rates.
Is it difficult to get a mortgage in Dubai?
Not if you meet the eligibility criteria and have proper documentation. Getting pre-approved through Square Mortgage Consultants makes the process fast and seamless.
What is the meaning of a mortgage loan?
A mortgage loan is a financial agreement where a bank or lender lends funds to help you purchase property, with the property acting as collateral until the loan is fully repaid.
How to calculate home loan affordability in the UAE?
Affordability is calculated based on your monthly income, existing financial liabilities, and the Debt-to-Income (DTI) ratio, which UAE Central Bank regulations cap at 50% of your monthly income.
How do I calculate my mortgage affordability?
You can use our online Mortgage Calculator or speak directly with our advisors at Square Mortgage Consultants to determine your exact borrowing capacity.
What is the minimum credit score for a mortgage in the UAE?
Banks prefer a clean Al Etihad Credit Bureau (AECB) report with a score typically above 650, indicating a healthy credit history and low default risk.
How is a mortgage loan calculated?
Mortgage payments are calculated based on the principal loan amount, the interest or profit rate, and the total repayment tenure (up to 25 years in the UAE).
How do banks calculate mortgages?
Banks evaluate your net monthly income, subtract existing debt obligations (like credit card limits and personal loans), apply the 50% DTI cap, and factor in the loan tenure and interest rates.
What is the interest rate for a home loan in the UAE?
Rates can be structured as fixed for a specific period (e.g., 1, 3, or 5 years) before reverting to a variable rate linked to benchmark rates like EIBOR.
Concierge
What is a property concierge?
A property concierge provides personalized, end-to-end assistance managing your property buying, leasing, and advisory needs.
What is the difference between a concierge and a real estate agent?
While a real estate agent primarily focuses on buying and selling properties, a concierge offers broader, personalized lifestyle and administrative support throughout your property journey.
What to expect from a concierge service?
Expect customized support, expert market advice, handling of documentation, and a streamlined experience from property search to handover.
Hub by Square Mortgage Consultants
Need Help?
Our dedicated support team at Square Mortgage Consultants is here to assist you at every step of your property and financing journey.
How can I track mortgage referrals with Hub?
You can track all your submitted referrals, status updates, and milestone progress in real-time directly through your agent dashboard.
How do I earn commission with Hub?
Submit qualified mortgage leads or connect your property buyers to our financing ecosystem. Once the mortgage is successfully disbursed, you receive your commission on transfer.
How does Hub help me increase my sales?
By connecting you with pre-approved buyers looking for immediate property matches, streamlining lead management, and allowing you to monetize your network through lucrative mortgage referrals.
Commercial
What is a business mortgage?
A business mortgage is a specialized financing solution designed to help companies purchase commercial properties such as offices, warehouses, or retail units.
What is a commercial mortgage broker?
A commercial mortgage broker acts as an intermediary between businesses and commercial lenders to secure the most favorable financing terms available.
What is the period of a commercial loan?
Commercial loan tenures in the UAE typically range from 5 to 15 years, depending on the lender and the property type.
Conveyancing
What does a conveyancer do?
A conveyancer handles all the legal and administrative steps required to transfer property ownership smoothly between a buyer and a seller.
Who pays for conveyancing?
Typically, the buyer covers the conveyancing and legal fees associated with the property transfer, though terms can be negotiated in the contract.
Why do I need conveyancing?
Conveyancing ensures that the property title is clean, free of liabilities, and that all legal requirements mandated by the Dubai Land Department are met.
Islamic Home Finance
What is Islamic home finance?
Islamic home finance is a Sharia-compliant method of purchasing property without interest (Riba), using structures such as Murabaha or Ijara.
How does Islamic home finance differ from a conventional mortgage?
Instead of lending money with interest, the bank purchases the property and sells or leases it back to you at an agreed-upon profit or rental margin.
Who can apply for Islamic home finance?
Both UAE nationals and expatriates, whether Muslim or non-Muslim, can apply for Islamic home financing products in the UAE.
How do I apply for Islamic home finance with Square Mortgage Consultants?
You can apply directly through our platform, and our expert advisors will guide you through matching with top Islamic banking products.
UK Mortgages
What UK banks offer expat mortgages?
Several prominent UK high street and specialized banks offer mortgages tailored specifically for overseas expatriates looking to invest in UK property.
Can I get a buy-to-let mortgage in the UK if I live abroad?
Yes, many UK lenders offer buy-to-let mortgages to expats, allowing you to purchase rental property in the UK while living abroad.
How much deposit do I need for an expat mortgage?
Expat mortgages typically require a higher down payment than resident mortgages, often ranging from 25% to 35% of the property value.
Can I get a mortgage in the UK as an expat?
Yes, provided you meet the lender’s income, documentation, and affordability criteria for non-resident borrowers.