You live in the UK. You want to buy in a Dubai freehold zone (Palm Jumeirah, Downtown, Marina, Business Bay, Emirates Hills). UAE banks lend to non-residents up to 50 percent LTV, AED-denominated, at EIBOR plus a margin, or fixed introductory rates. Dubai Land Department fee is 4 percent of purchase price. Ejari registration is required for rental if you intend to let.
Typical numbers, non-resident
- LTV up to 50 percent for non-residents (75 percent for UAE-resident expats).
- Currency AED. EIBOR plus 1.5 to 3 percent margin, or fixed 4.5 to 5.5 percent.
- Dubai Land Department fee 4 percent of price.
- Agency fee 2 percent (buyer side commonly).
- Property must be in a designated freehold zone.
We are a credit broker and not a lender. Whichever lender we introduce you to, we will typically receive commission from them after completion. Where we refer you to a third-party overseas broker we may receive an introducer commission. This does not affect the amount you pay.