Question 1

What is the minimum down payment for expats?

Accepted Answer

For expatriates in the UAE, the minimum down payment for properties under AED 5 million is typically 20%. For properties valued over AED 5 million, the down payment usually increases to 30%.

Question 2

Can I get a mortgage for an off-plan property?

Accepted Answer

Yes, many banks offer mortgages for off-plan properties. However, the terms and maximum LTV ratio usually depend on the developer and the construction progress of the project.

Question 3

How long does the pre-approval process take?

Accepted Answer

Generally, a mortgage pre-approval can take anywhere from 3 to 7 working days once all necessary documents have been submitted to the bank.

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