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
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
Understanding 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.
Document 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.
Submission 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.
Bank issues the Pre-Approval.
Pre-Approval Letter 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.
Property Identification.
Protecting Your Interests: Property Purchase Review Before signing the Memorandum of Understanding (MOU) for your chosen property:
- Share the MOU draft with us to ensure mortgage finance commitments are safeguarded.
- 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
- Potential risks are mitigated
Secure Your Investment By reviewing the MOU and securing vital documents,you can confidently proceed with your property purchase, knowing your mortgage finance interests are protected.
Property Evaluation
Property Valuation Process Bank-Approved Property Appraisal:
- The bank assigns a valuation agency to evaluate your property.
- The agency schedules an on-site assessment with you or authorized representative.
- Valuation report submitted to the bank within 2-3 working days.
Evaluation Fee Typically ranges from AED 2,500 – AED 3,000, plus applicable taxes. What to Expect Our Relationship Manager will guide you through:
- Scheduling the valuation appointment
- Ensuring required documents are in order
- Tracking the valuation report submission
Final Offer Letter
At Al-barakah Finance, we guide you through the final stages:
- Valuation report receipt
- Bank’s final approval initiation
- Completion of pre-approval conditions (if any)
Final Offer Letter Review Our dedicated Relationship Managers jointly review the final offer letter with you, ensuring:
- Alignment with your needs
- Clarity on terms and conditions
FinalizationUpon acceptance, you’ll sign the required bank documentation, securing your mortgage. Expert GuidanceAt Al-barakah Finance, our experts ensure a seamless mortgage journey from application to completion.
Medical Test
Typically applicable for:
- High-value finance amounts
- Insurance providers requiring medical assessments prior to policy underwriting
Transparency and Guidance Our experts at Al-barakah Finance will:
- Notify you of specific medical test requirements
- Explain the process and documentation needed
- Ensure seamless coordination with insurance providers
Your Protection Life insurance coverage ensures your loved ones’ financial security.We’re committed to guiding you through this essential step.Alternatively, here’s a concise version: Life Insurance Medical Tests 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
- Ensure smooth insurance coordination
Understanding our Client’s Need
Finalizing Your Mortgage:
- Verification of complete documentation
- Bank requests Developer NOC
Coordination and Support Typically arranged by:
- Buyer and seller
- Real estate agents
We facilitate communication with:
- Developer’s office
- Relevant stakeholders
Streamlined Process Our experts at Al-barakah Finance ensure:
- Seamless documentation submission
- Timely NOC procurement
- Smooth mortgage completion
Understanding 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.
Document 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.
Submission 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.
Bank issues the Pre-Approval.
Pre-Approval Letter 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.
Property Identification.
Protecting Your Interests: Property Purchase Review Before signing the Memorandum of Understanding (MOU) for your chosen property:
- Share the MOU draft with us to ensure mortgage finance commitments are safeguarded.
- 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
- Potential risks are mitigated
Secure Your Investment By reviewing the MOU and securing vital documents,you can confidently proceed with your property purchase, knowing your mortgage finance interests are protected.
Property Evaluation
Property Valuation Process Bank-Approved Property Appraisal:
- The bank assigns a valuation agency to evaluate your property.
- The agency schedules an on-site assessment with you or authorized representative.
- Valuation report submitted to the bank within 2-3 working days.
Evaluation Fee Typically ranges from AED 2,500 – AED 3,000, plus applicable taxes. What to Expect Our Relationship Manager will guide you through:
- Scheduling the valuation appointment
- Ensuring required documents are in order
- Tracking the valuation report submission
Final Offer Letter
At Al-barakah Finance, we guide you through the final stages:
- Valuation report receipt
- Bank’s final approval initiation
- Completion of pre-approval conditions (if any)
Final Offer Letter Review Our dedicated Relationship Managers jointly review the final offer letter with you, ensuring:
- Alignment with your needs
- Clarity on terms and conditions
FinalizationUpon acceptance, you’ll sign the required bank documentation, securing your mortgage. Expert GuidanceAt Al-barakah Finance, our experts ensure a seamless mortgage journey from application to completion.
Medical Test
Typically applicable for:
- High-value finance amounts
- Insurance providers requiring medical assessments prior to policy underwriting
Transparency and Guidance Our experts at Al-barakah Finance will:
- Notify you of specific medical test requirements
- Explain the process and documentation needed
- Ensure seamless coordination with insurance providers
Your Protection Life insurance coverage ensures your loved ones’ financial security.We’re committed to guiding you through this essential step.Alternatively, here’s a concise version: Life Insurance Medical Tests 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
- Ensure smooth insurance coordination
Understanding our Client’s Need
Finalizing Your Mortgage:
- Verification of complete documentation
- Bank requests Developer NOC
Coordination and Support Typically arranged by:
- Buyer and seller
- Real estate agents
We facilitate communication with:
- Developer’s office
- Relevant stakeholders
Streamlined Process Our experts at Al-barakah Finance ensure:
- Seamless documentation submission
- Timely NOC procurement
- Smooth mortgage completion