Over time, expat mortgages have been more and more attracted to the UAE, particularly in Dubai. The United Arab Emirates loan market has grown into a well-established business, giving house loans against property to local and overseas lenders as well as UAE nationals, in order to stay up with this trend. We at New Best Credit are here to help you if you’re looking for a loan against property in Dubai. We’ll handle the process efficiently and without any fuss.

• Flexible End-Use: Like personal loans, loans secured by real estate in Dubai may be used for both business and personal needs, but not for speculation.
• High Loan Quantity – Because a mortgage loan is secured by a high-value asset, you have access to a larger loan quantity, making it easier for you to pay for your high-end expenses.
• Low Interest Rate: When compared to unsecured loans, secured loans have lower interest rates. Due to this, a loan against property is a more advantageous and affordable option than a personal loan.
• Flexible Tenure – In Dubai, the average loan-to-value term is 20 years, which benefits you with reduced EMIs and greater repayment flexibility.
• A mortgage loans offers in dubai, Expat Mortgages Dubai also includes a balance transfer feature that enables you to refinance your current mortgage loan to any other lender at a lower interest rate or with better loan terms.

• Your credit score is one of the main determinants of your eligibility for borrowing money. But other people believe that a credit score is only important for unsecured loans. However, this is untrue. Before opting to offer you a secure loan, many loan providers take your credit score into account. Your loan payment history is shown to lenders by your credit score. Consequently, if your credit score is excellent, getting a loan will be simple for you. Similar issues can arise while attempting to obtain a loan against property in Dubai if you have a low credit score.
• Your source of income is: Your property serves as collateral, but the majority of banks and other lenders also consider your source of income. This is done to make sure you have enough stability to pay back your loan in manageable monthly installments. Even if you have a high-value asset, in some circumstances not having a necessary source of income can cause the loan to be cancelled. For this reason, you should choose an EMI that is in line with your overall income.
• The authenticity of your ownership must be established by submitting the required documentation. This is particularly significant if you’re utilizing your assets as collateral. Title deeds, registration records, building plans, and approval paperwork from relevant authorities are all important property documents. Your property shouldn’t be subject to any complicated legal issues. Before completing the paperwork, it is crucial to confirm that your name is listed as the owner or co-owner of the property.
• Your desired tenure: This type of loan has a customizable lending term. However, you shouldn’t choose an extremely short period because doing so could result in the loan being declined. You must comprehend the conditions pertaining to your revenue and the time period you desire to get. It is preferable to strive to gain additional time if your monthly revenue is minimal.
  As the borrower, your age is: A loan against property in Dubai has age restrictions. Young people are more likely than older persons to get approved for a loan. Nevertheless, there are just a few tenure alternatives available, depending on the borrower. As a result, a 55-year-old borrower will have to pay back the loan quickly.