Barclays Mortgage is a loan provided to personal clients of all nationalities (UAE residents and non-residents) who wish to purchase completed or off-plan property in the open market areas of Dubai (in specific projects) for their own residential use or letting to others.
Key Features
- Competitive interest rate (BMR - Barclays Mortgage Rate)
- Simple application process (approval within 24 hours)
- Range of currencies available (AED, Sterling and US$)
- Expert Mobile Mortgage Advisers available
- Interest only and repayment methods
- Available to non-residents on the same terms as residents
- Residential and Buy to let mortgages available
- Mortgages for properties completed and under construction
- Available for remortgage and equity release
Interest Rates
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Fees and Charges
- AED Loans from 0.50% of the loan amount
- Currency Loans from 0.80% of the loan amount
The client is responsible for the cost of:
- Professional valuation of the property
- Their own legal and tax advice
- Any additional fees incurred if arranging a fixed rate
A fee of 1% is payable if the client repays the loan within the first 24 months.
Developers
- Emaar
- Nakheel
- Dubai Properties
Criteria
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* LTV = Loan to Value
* DSR = Debt Service Ratio
Life Assurance/ Building Assurance
Life Assurance in the value of the loan amount must be arranged and assigned to Barclays.
Comprehensive building cover is required for villas or other properties not covered by a group or block insurance scheme.
*Barclays will introduce clients to an experienced UAE based broker
