Home Loan Stages
The Home Loan Process
Purple Roof’s Mortgage Brokers and Home Loan Experts are specialists in securing your ideal home loan – even difficult or complicated cases. Read on to see the typical process when securing a mortgage in UAE.
Receiving Documents
Receiving documents and related details required by the banks is an essential first step when securing a UAE mortgage for your home loan. Please provide all relevant documents to ensure a swift and smooth process.
Bank Selection
Our expert team will advise you on different options of banks in terms of charges and rates, based on your profile. You are welcome to select your own bank to apply for your uae mortgage. However our experts will know the best options to minimize your expenses and to fit into your lifestyle, should you like to take advantage of that knowledge for your home loan.
Application Signing
Once you have Zeid Ted the bank/s you’d like to apply to, then comes the actual application compilation and signing. We handle the compilation for you, you just have to sign the application after checking everything is correct.
Case Submission
The application is then submitted to the bank under your case file, for them to assess and consider.
Approval
If all goes to plan, you will receive an approval letter from bank, something to celebrate!
Selection Of Property
If you haven’t already, you’ll now select a property you’d like to make an offer on. If accepted, you’ll sign MOU or SPA documentation.
Valuation Fee
There are numerous small few payable for general compulsory processes when purchasing property. One of those is having the property baluster, so the bank can ensure you are purchasing a property worthy of the price.
Final Offer
Next comes the issuance of final offer letter.
Transfer Date
This involves booking a transfer date, based on availability of the buyer and seller.
Land Department
Finally, the property transfer and mortgage creation is made official in the land department, with exchange of funds and contracts.
Voila! Your mortgage is complete, your property is secured. Now you just have to make your monthly mortgage payments to maintain your home loan, and enjoy your new acquisition!
Home Loan Made Easy
Our team of expert mortgage advisors and brokers will guide you through the loan application process, helping you find the best rates and terms that fit your financial goals.