Non Residential Mortgage

Non-Resident Mortgage: A Complete Guide to Getting a Mortgage

UAE has emerged as a popular tourist destination over the past decade. Hence, increasing the real estate value, adding more to the allure of the place. Since, real estate investment is a clever way to secure one’s future, many foreign investors have been eyeing to take up the opportunity.

But can a non-resident buy property in the UAE? Yes, they can get a non-resident mortgage and purchase the property of their choice without a problem.

What Is a Non-Resident Mortgage?

UAE is one of those countries in the world that has the lowest property taxes. Hence, making it a feasible investment choice. But is it easy? Paying upfront payment for purchasing real estate may not be easy for everyone. Hence, non-residents looking to invest in the property there can apply for a non-resident mortgage. This allows people living outside the UAE to apply for a loan.

And if you’re having trouble finding the best mortgage deals, let us at Credit Link help you with it.

The Eligibility Criteria

Before you apply for a non-resident mortgage, you need to understand the eligibility criteria. If you fill all the boxes below, then congratulations, you’d have an easy time getting a loan:

1) You should be a resident of the country present on the list of countries to which banks can release mortgages.

2) You should have a stable salary or be self-employed with a stable income source.

3) You should be 21 years of age or older to apply for the non-resident mortgage.

4) You should fall into the bank’s minimum salary criteria to be eligible for the loan application.

Documents Required for Non-Resident Mortgage Application

Once you’ve found yourself to be eligible for the non-resident loan, here are the documents that you need:

1. A passport (it shouldn’t be expired)

2. Bank statements for the last 3-6 months

3. Tax returns

4.Salary slips

5. Additional details of any existing loans

Benefits of Using a Mortgage Broker

Managing the non-resident mortgage process in a foreign country can be complex. Here’s how a mortgage broker like Credit Link can benefit you:

. Expertise and Market Knowledge: We understand the UAE mortgage market and can guide you towards lenders offering the best rates and terms for non-residents.

. Streamlined Application Process: We handle the paperwork, ensuring all documents are filled out accurately and submitted promptly.

. Negotiation Power: We can leverage our relationships with banks to negotiate on your behalf, potentially securing a lower interest rate or more favorable loan terms.

Multilingual Support: We can assist you in your preferred language, removing any language barriers during the process.

Getting Started with Your Non-Resident Mortgage

Ready to pursue your dream property in the UAE? Here’s how to get started:

1 Contact a Mortgage Broker: Connect with Credit Link today for a free consultation. We’ll assess your eligibility and financial situation to recommend the best mortgage options.

2 Gather Your Documents: Start collecting the required documents mentioned earlier to expedite the application process.

3 Choose Your Property: Once pre-approved for a mortgage, you can confidently search for your ideal property in the UAE.

4 Submit Your Application: We’ll guide you through the application process, ensuring it’s submitted accurately and efficiently.

With careful planning and the right support, securing a non-resident mortgage in the UAE can be a smooth and successful endeavor. Let Credit Link be your partner in achieving your property ownership goals in the UAE!

We’re dedicated to simplifying your mortgage journey with expertise and personalized service

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