{"id":2251,"date":"2015-09-26T15:34:49","date_gmt":"2015-09-26T15:34:49","guid":{"rendered":"http:\/\/blog.dubaicityguide.com\/site\/?p=2251"},"modified":"2015-09-26T15:37:14","modified_gmt":"2015-09-26T15:37:14","slug":"what-you-need-to-know-about-applying-for-a-mortgage-in-the-uae","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/what-you-need-to-know-about-applying-for-a-mortgage-in-the-uae\/","title":{"rendered":"What you Need to Know About Applying for a Mortgage in the UAE"},"content":{"rendered":"

Taking out a mortgage on property is one of the few \u2018large and long-term purchases\u2019 you will make during your life, so it\u2019s important to know the facts, be familiar with the process and pick up any tips and tricks that will help you along the way. So here are a points you need to know when applying for a mortgage for a property in Dubai<\/a>:<\/p>\n

<\/b>Get your Mortgage before Searching for a Property\u00a0<\/b><\/p>\n

Sort out your mortgage first before you starting looking at houses. By doing this you won\u2019t be disappointed if you find your dream property and your loan won\u2019t cover it. Once you know how much money you can borrow from the bank you will know what your property price range is, then you can start property hunting seriously, avoiding any heartbreak and disappointment. To give you a rough idea on how much you would be paying each month, use an online mortgage calculator (offered on the websites of many lenders).<\/p>\n

<\/b>Shop around, online and visit bank branches\u00a0<\/b><\/p>\n

Go to your existing bank first and see what mortgage package they have to offer. Then, to find out if it is a good deal (or if you can find one better), \u2018shop around\u2019. Visit other lenders to compare rates and features to those of your existing bank, or use one of the many online comparison sites available to get an idea of what\u2019s out there (they tend to include international banks too) and you may find a better deal elsewhere! But, if you find the process all too stressful and would prefer someone to do all the legal work for you, you can employ a mortgage broker to take the pressure off.<\/p>\n

<\/b>Be Willing to Haggle\u00a0<\/b><\/p>\n

You might not have realised that you could haggle about something as large as you mortgage. But, like anything, if you find a good deal elsewhere and would prefer to stay with your original bank, you could use the better deal to ask for a more competitive offer at your original bank.<\/p>\n

<\/b>Don\u2019t Forget About Additional Costs and Hidden Fees\u00a0<\/b><\/p>\n

Often during the exciting process of finding your dreams house and securing your mortgage, people forget about the extra costs, which could add up to quite a large sum of money. Extra costs will include the arrangement fee (about 1 per cent of your loan value), a valuation fee and the compulsory cost of life and household insurance, all which could add up to more than you expected.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taking out a mortgage on property is one of the few \u2018large and long-term purchases\u2019 you will make during your life, so it\u2019s important to know the facts, be familiar with the process and pick up any tips and tricks that will help you along the way. So here are a points you need to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2251","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/2251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=2251"}],"version-history":[{"count":3,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/2251\/revisions"}],"predecessor-version":[{"id":2254,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/2251\/revisions\/2254"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=2251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=2251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=2251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}