Overseas mortgages are loans that are granted by the financial institutions in the UAE to clients who intend to buy a property in Dubai while they are not residing in UAE.
This is a unique option for home owners to be, and property investors who intend to buy a property in Dubai but are short of funds. The overseas mortgages are based on the profile of the clients, who can apply for a loan once they have shortlisted the property they ought to buy.
Although the interest rate in these mortgages vary based on the profile of the client applying for, but generally the overseas mortgages can be attained up to 50% of the property value and with an interest rate that is around 4 to 4.5%.
The documentation required for these overseas mortgage includes the bank statements from the current country of residence, proof of source of income and international credit score ratings. However, based on the cases there might be additional documents requested as per the policy of the lender.
The transparency in the property market and highly regulated policies and laws have already attracted thousands of investors from around the world to invest in Dubai. And with a lucrative option like this, surely overseas buyers have one more reason to invest in the property.
To know more about Overseas Property Mortgages, you can get in touch with Homes 4 Life Real Estate.