Convenience of all banks loans from the single source
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How our business loans work
We’ve simplified the process. Apply for our business loan in minutes, without painful paperwork or waiting in queues.
Complete our online application. It’s quick, easy, and confidential
If You’re Pre-Approved, E-Sign your Application To Confirm Funds.
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Cash Deposited To Your Bank Account As Quickly As The Next Business Day.
Finding you the most cost effective mortgage product which can save you heafty amounts in total tenor.
We takes care all the steps and let you focus on your other important activities. All services to be provided on your door step.
No Hidden Costs
Only working on crystal clear terms what you see is what will you pay. No hidden charges or secret rates.
Explore our products
Arranging maximum finance of 80% plus additional 4.5% for your new residential or commercial purchase. Handover payments options available.
Getting cash out today on your fully paid completed units for residential, commercial, building or land etc.
Providing you ease from your existing bank charging you high rates by finding you the cheapest rates to reduce your EMI.
Non Residents Mortgage
Get upto 70% finance for your new purchase of residential or commercial,or cash out on your fully paid property.
60% finance available for new purchase or cash out on your existing building based on the rental income of building.
Commercial or Land Finance
Get your new office, shop, warehouse or land through our flexible options suiting your requirement.
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Get Mortgage in UAE With Fixed Margins Starting From 1.7% – Hassle Free!
Questions and answers
A Mortgage is a financial product which helps individual(s)/companies to purchase an asset (home, office, shop, warehouse, labor camp etc.) through the help of financial institution, by paying just a down payment at the day of transaction and rest of the payment is done by the bank/financial institution. The repayment hence is divided into each month installments EMI (on agreed terms between the financial institute and the customer).
The bank or financial institution is the owner of the property till the outstanding loan is due, but customer has the full right to use it by himself or utilize it for availing income.
The customer has full rights to sell the property at any time (unless any terms and conditions are set for not doing so between the 2 parties at the time of availing loan). The bank usually charges the interest only for the time till the funds of the banks are utilized, the new buyer can pay what ever is outstanding to the bank and rest can be paid to the customer.
There is just a nominal penalty of 1% max (AED 10,000 of the loan outstanding unless any exclusive terms and conditions are set between the client and the bank at the time of availing loan). Most likely the customer will enjoy the benefit of getting the difference in price due to Value appreciation increase within some time, and also the amount that was reduced from the principal loan by paying EMI’s and of course, the recovery of down payment that was made in the beginning.
As per the latest research, the rental market is much higher and increasing by 10-15% each year. On the other hand, the secondary market is much lesser compared to ratio of rentals (ROI). So, the EMI set for 15-25 years is usually 25-40% less then amount of rent paid each month for the same property.
Also the difference between the rent and EMI is, rents are totally drained out each month, but the EMI paid consist of 2 parts (banks profit+principle) where after deducting bank’s profit rest all amount is subtracted from the outstanding principal amount , making it lesser each month.
As per central bank regulations, a mortgage product is accompanied with life and building insurance (which is arranged by the bank providing mortgage; however if client has existing life insurance it can be allocated for mortgage, case to case basis), If something happens to a client or because of any natural disaster the property is not in usable condition the insurance will cover the loss and the property will be handover to the family as per UAE law.
Yes, any customer who has previously applied with any bank (s) can still contact us to avail our professional assistance. There are chances that the bank which declined the case may not have the policy of catering such profile client. We deal with almost all the lenders of the market and we have better understanding about the lending policies of different banks, so we can find a solution. Considering client’s case, we can offer to a client the best available option which caters his requirements.
As per central bank regulations, it is not allowed to avail personal loan (cash loan) to utilize as down payment or any part of it, however we can arrange personal loans for the clients 5-10% extra of the finance value to cover the other costs like transfer fees, buying new furniture for the house etc. if clients eligibility allow this.
The other sources are fixed allowances, variable allowances, bonus, commissions, over time payments, pension, flying allowance, rental income, wife/husband/children income etc. can be fully/partly added to the main income of the client but the basic income criteria should be met by main applicant to avail the additional income.
For completed properties banks usually pay their share of payments once all formalities have been completed (including the down payment from client’s side) and on the Transfer Day by “Manager’s chq” which will be under the name of seller/sellers and can be en-cashed only on the payee account(s).
The bank will not issue the cheque under any other name or handover it to any third party including family members, partner, friends, POA, agents etc. For Off plain projects, once all formalities are done, bank will release its share only once the client have completed paying his/her part of 50% or more to the seller/developer as agreed between bank and the client. After this bank will release the amounts as per the payment plan of developer. The payment will be made to exact concerned party as per contract and will not be paid to anyone else. It is strictly advisable to always share such issues that are defined above at the time of initial discussion with your financial expert (before signing MOU or giving deposit cheque) to avoid any kind of loss at the final stage.
There is pre-approval fees (approx. 1000-3000) depending upon the bank which will be adjusted in processing Fees later. However, Benchmark Mortgage Broker’s clients can avoid pre-approval fees as our most partnering banks give this exclusive option for our clients.
There is also evaluation fees starting from AED (2500). Please be advised that it can increase depending upon the property type, size etc.
There is an arrangement/processing fees, that is charged by the bank starting from 0.75% till 2% of finance value depending upon the transaction type.
There is 4.25% transfer charges (4% transfer charges+0.25% mortgage registration charges) plus AED 4000 as Administration fees of DLD/trustees office and approximately cost of new title deed issue in amount of AED 600.
There can be additional cost up to 2% of the property value to be paid to real estate brokerage company.
Professionals at Benchmark Mortgage Brokers are experienced in mortgage transactions and market conditions. We know all pros and cons of each client’s profile and have better understanding of lending policy of different banks.Our Team will save your time, efforts and money submitting your case to the banks where there are more chances to get approval.
Our experts will also guide you through all the steps and share their expert advises during the following stages: documents preparation, property choice, MOU signing, submission to a bank, Transfer formalities etc.