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.
- Discuss finance requirements and financial situation
- Explore mortgage potential
- Understand costs and next steps
- Receive pre-approval guidance
Document Collection & Review.
- Review and verify documents
- Clarify any discrepancies
- Identify best-fit mortgage options
- Shortlist ideal banks/financial institutions
Submission of Documents.
- Submitting property documents.
- Proposing your case for final approval.
Bank issues the Pre-Approval.
- Loan amount
- Interest rate
- Tenure
- Conditions (if any)
Property Identification.
- 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)
- Your rights are protected
- Mortgage finance terms are aligned with the purchase agreement
- Potential risks are mitigated
Property Evaluation
- 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.
- Scheduling the valuation appointment
- Ensuring required documents are in order
- Tracking the valuation report submission
Final Offer Letter
- Valuation report receipt
- Bank’s final approval initiation
- Completion of pre-approval conditions (if any)
- Alignment with your needs
- Clarity on terms and conditions
Medical Test
- High-value finance amounts
- Insurance providers requiring medical assessments prior to policy underwriting
- Notify you of specific medical test requirements
- Explain the process and documentation needed
- Ensure seamless coordination with insurance providers
- High finance amounts
- Insurance underwriting purposes
- Inform you of requirements
- Facilitate the process
- Ensure smooth insurance coordination
Understanding our Client's Need
- Verification of complete documentation
- Bank requests Developer NOC
- Buyer and seller
- Real estate agents
- Developer’s office
- Relevant stakeholders
- Seamless documentation submission
- Timely NOC procurement
- Smooth mortgage completion
