Mortgage for non-residents

Dear Sir/Madam,

Thank you for your question. Mortgage application requirements depend on several factors including:

- Type of bank (commercial, Islamic, branch of a foreign bank, etc.)

- Type of developer (master developer or sub-developer)

- Type of property (off-plan or ready-made)

- Visa status of applicant

- Financial status of applicant

In general, banks consider mortgages to expats as high risk regardless of whether the expat is a resident of the country or not. Hence, many banks exercise caution when providing mortgages to expats.

Also, banks are less likely to provide mortgages to lesser known developers or developers with bad credit history. Moreover, many banks will not give mortgages to those who do not have a UAE residency visa because they will be unable to obtain a credit report from the Al Etihad Credit Bureau as to the financial health of the applicant.

Hence, if you can prove through collateral and other financial records that you can guarantee the cost of the mortgage, it may be possible to obtain a mortgage subject to the bank's requirements.

Regards,

Ahmed Odeh