Mortgage Finance
Al-Barakah Finance simplifies complex financial products through clear, concise language. Our tailored service programs cater to the unique needs of each client segment, empowering informed financial decisions that meet short-term and long-term goals.
Our Mortgage Finance Services
Your home is our first priority.
Mortgages for First Time property buyers
Embarking on a financial journey can be daunting. At Al-barakah Finance, we simplify complex decisions like mortgage finance with expert guidance and personalized support.
Mortgage for Buying Residential Property
In the UAE, Al-barakah Finance stands out amidst 20+ banks and financial institutions, offering customized mortgage solutions tailored to meet the unique needs of our valued clients.
Mortgage for Buying Commercial Property
At Al-barakah Finance, we advise clients to prioritize commercial projects already vetted and approved for end-user financing by leading banks, streamlining the financing process and minimizing risks.
Transfer Existing Mortgage to another bank/ financial institution
Shifting mortgage rates may render your current terms unfavorable. Let Al-barakah Finance assist you reassess and refine your mortgage strategy.
Cash Finance at Low Rates against Existing Property
Many individuals overlook the untapped potential of their property's equity, resorting to costly financing options instead.
Mortgages for Non UAE Residents
UAE banks exercise heightened caution when financing non-resident clients, with only a select few banks and financial institutions offering tailored solutions for this demographic.
Mortgages against Under Construction Project
Financing off-plan projects in the UAE requires expertise. Our established relationships with select banks enable Al-barakah Finance to provide exclusive mortgage solutions for under-construction properties.
Step-by-Step Mortgage Application Process
Nine steps from your first conversation to the keys. Open any step to see what happens.
01Understanding our Client's Need
Speak with our expert Relationship Managers to:
- Discuss finance requirements and financial situation
- Explore mortgage potential
- Understand costs and next steps
- Receive pre-approval guidance
Start your mortgage journey today with Al-barakah Finance.
02Document Collection & Review
Our experts:
- Review and verify documents
- Clarify any discrepancies
- Identify best-fit mortgage options
- Shortlist ideal banks/financial institutions
A nominal pre-approval fee (if required) is collected, typically credited against final approval.
03Submission of Documents
Accelerated Final Approval (if property selected). If you've already chosen a property, we can expedite the process by:
- Submitting property documents.
- Proposing your case for final approval.
Our expert guidance streamlines the application process, ensuring efficiency and timely progress.
04Bank issues the Pre-Approval
The bank issues a pre-approval letter outlining:
- Loan amount
- Interest rate
- Tenure
- Conditions (if any)
- Validity: 30-90 days (bank-dependent)
Our experts will guide you through fulfilling conditions and finalizing your approval.
05Property Identification
Before signing the Memorandum of Understanding (MOU) for your chosen property, share the MOU draft with us and obtain essential documents from the seller:
- Property title deed
- Sale Purchase Agreement (SPA) or Form F
- Floor plan
- Tenancy contracts (if applicable)
Our expert review ensures your rights are protected, mortgage finance terms are aligned with the purchase agreement and potential risks are mitigated.
06Property Evaluation
The bank assigns a valuation agency to evaluate your property:
- On-site assessment with you or an authorized representative
- Valuation report submitted to the bank within 2-3 working days
- Evaluation fee typically AED 2,500 - AED 3,000, plus applicable taxes
Our Relationship Manager will guide you through scheduling, documents and tracking the report.
07Final Offer Letter
We guide you through the final stages:
- Valuation report receipt
- Bank's final approval initiation
- Completion of pre-approval conditions (if any)
- Joint review of the final offer letter with you
Upon acceptance, you'll sign the required bank documentation, securing your mortgage.
08Medical Test
We'll advise if medical tests are required for life insurance, typically for:
- High finance amounts
- Insurance underwriting purposes
Our experts will inform you of requirements, facilitate the process and ensure smooth insurance coordination.
09Understanding our Client's Need
Finalizing your mortgage:
- Verification of complete documentation
- Bank requests Developer NOC
- Coordination with buyer, seller and real estate agents
Our experts ensure seamless documentation submission, timely NOC procurement and smooth mortgage completion.
We understand the unique financial challenges businesses face, and our goal is to provide innovative solutions that assist you achieve your goals. Whether you're looking to expand your operations, raise capital, or optimize your financial performance, we're here to assist.