16 February, 2008
A lot of people ask me about getting mortgages on property in Dubai, so I thought I should shed a little light on the subject.
With so much freehold on the Dubai market, and something for all different types of income level, be it modest or very high, putting the finance in place to take advantage of the market is key. Over recent years the Dubai property market has benefitted not just from better regulation and property law, but also from increasing choice when taking out a mortgage.
The old situation
Early buyers looking for a mortgage were severely restricted in doing so because just about the only options were the financial subsidiaries of the two main developers Emaar and Nakheel. That was about it, as they were the first property developers on the market, and there was no stable law in place.
Fast forward to now
These days, the government has completely opened up the property mortgage market, making it a more competitive place and of huge benefit to buyers. A lot more banks are offering mortgages at competitive rates. The choice of lenders includes RakBank, HSBC, National Bank of Dubai, Mashreq Bank, Barclays and many, many more. Here is a great mortgage table which outlines some of the options.
If you are serious about making money from property investments, and you're lookingat Dubai speak to me and I will put you directly in touch with my mortgage experts who can help.
