Navigating your Homeownership Journey: Eastern Region Group's Expertise in UAE Mortgages

Becoming a homeowner is a monumental achievement, and with Eastern Region Group by your side, the path to homeownership in the UAE becomes all the more accessible. Our comprehensive services extend beyond property transactions – we are your partners in realizing your dream of owning a residential property while securing the best mortgage options available.

Is purchasing property in the UAE the right choice for you?

While the UAE hosts a vibrant expatriate community, the decision to rent or buy property remains a pivotal consideration for many.

Foreign nationals looking to invest in the UAE have the opportunity to acquire apartments and houses located within specified freehold developments. A popular avenue involves purchasing off-plan directly from developers. Typically, this entails an upfront 10% deposit, followed by scheduled payments as the property takes shape. Nonetheless, it’s important to note that construction timelines can sometimes be unpredictable, and project delays are not uncommon.

To navigate this landscape with confidence, seeking legal advice before embarking on this journey is highly recommended.

The financial outlay associated with property acquisition in the UAE is multifaceted. In Abu Dhabi, the purchase process mandates a 2% payment of the property’s price to the estate agent, coupled with an additional 2% fee allocated to the municipality as a transfer charge. New home purchases come with an extra AED 5,000 payable to the developer. Dubai echoes similar financial dynamics. Here, the Dubai Land Department receives 2% of the transaction sum (an identical amount is paid by the seller), and a concurrent 2% payment is directed to the estate agency.

In light of these considerations, the choice between buying and renting property in the UAE is far from straightforward. It hinges on your personal circumstances, financial readiness, and long-term plans. As you weigh the pros and cons, remember that seeking the guidance of our professionals can provide invaluable insights that empower you to make a decision aligned with your aspirations.

What is the required deposit needed when purchasing a property through a mortgage?

When purchasing property through a mortgage in Dubai, the minimum cash down payment is calculated based on the property’s purchase value and your residency status.

Minimum Dubai mortgage down payment for properties up to 5m AED

  • 15% for UAE nationals
  • 20% for Expat residents

Minimum Dubai mortgage down payment for properties worth more than 5m AED

  • 30% for UAE nationals
  • 35% for Expat residents

Expert guidance for optimal mortgage solutions:

At Eastern Region Group, we recognize that each individual’s financial situation is unique.

Our dedicated team of experts is committed to understanding your specific needs, financial goals, and preferences. This enables us to tailor mortgage solutions that align with your circumstances, ensuring that you embark on your homeownership journey with confidence.

Suggesting the best mortgage rates:

We understand that mortgage rates play a significant role in your financial planning. Drawing from our extensive network of financial institutions, we have the expertise to suggest the bank offering the most favorable rates based on your financial portfolio. This personalized approach allows you to make informed decisions and secure a mortgage that suits your budget and long-term objectives.

Empowering your employment journey:

While we don’t directly provide employment services, our wide-ranging expertise can support you in securing your employment visa. The Eastern Region Group boasts an intricate understanding of the UAE’s legal landscape and we can offer a specialized service to help you get the necessary employment documents you need in order to get a mortgage. Our commitment to your holistic experience extends beyond property transactions.

Tailored to your financial landscape:

Imagine securing an apartment after just six months, with a mortgage coverage of up to 50%. Or, choose to wait a year for a mortgage coverage of up to 80% for a tenure of up to 25 years. Our offerings are designed to adapt to your journey, accommodating your financial comfort and preferences.

Experience the difference:

Eastern Region Group stands as your partner throughout your homeownership journey. We blend financial expertise, legal insight, and an unwavering commitment to your success. By choosing Eastern Region Group, you’re choosing a supportive ally that empowers you to make well-informed decisions and achieve your goal of owning a residential property in the UAE.

Contact us today at +971 56 901 5507 and embark on your homeownership journey with confidence, knowing that Eastern Region Group is here to guide you every step of the way.

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