There are a number of steps/regulations on buying in Dubai, and if you are resident here, the amount of time you have been working in Dubai, and your salary will affect your eligibility to obtain a mortgage. Most banks will now finance from 70-90% of a property. Typically, you should be resident no less than 1 year, and provide 6 months bank statements.

HSBC is, in my experience, one of the more flexible banks - they will offer you 60 times your monthly salary, up to a value of DHS. 5 million.

Hope this helps - I can put you in touch with some good, reputable agents who deal with buying homes if you wish!?

Thanks for the advice, still not sure whether to rent or buy in Dubai, or in fact whether to rent or sell our home in the UK!

There are companies in Dubai that will manage your property whilst you are away. They ensure it is rented and maintained. I will be happy to advise on companies we recommend. This is quite a good option if you are planning on returning to the UK, or just want property there.

So far as buying goes, it's hard to say for sure. I, personally, am under the impression that it's better to live in Dubai for a while, and get a feel for the areas you will be most happy with. It will also give you enough to find out where the good quality building is, and the area with most potential.

On another note, there is a Lloyds TSB and HSBC here, although they share very little with their UK counterparts. For the most part, the usage of the brand name is more of a marketing and recognition tool. As an example, if you have a UK HSBC account, they will not be able to find any information out from here.

try www.accelarabia.com for free mortgage assesment in dubai .. its amazing and its for free

Hi Asher,

Saw your posting, I currently work as a mortgage advisor and would be more than glad to help you out in this matter.

I understand you might think my opinion is biased based on the fact that this is my line of work, however, dont you think you would be better off investing towards your own equity instead of paying rent.

I mean: in essence if you rent in Dubai you would literally be paying someone else's mortgage off. Why not put down some capital and invest instead of wasting money on rent?

Give me a call at +971 55 4411211 if you wish to take this exchange further.

Faraz

Which banks in UAE provides mortgage facilities. please give me the list....

Hi,

Limited non status mortgages available for loans under 70% of the value of the property.
Status mortgages require
a. Proof of income – employed - three months wage slips
self employed – 2 years audited accounts, 3 months
business and bank accounts.
b. The amount borrow is based on net income. Your mortgage payments plus any other outgoings cannot exceed 50% of your income.
c. The term of the mortgage is 15 years and can available to any person up to the age of 70 at the end date of the loan

this is just a general view on the the Dubai Mortgage market....