Finding the Right Mortgage Starts With Understanding Your Profile
A residential mortgage is a significant financial commitment. The appropriate financing structure can depend on your income, employment, residency, property value, existing liabilities, credit profile and other factors. Prime Trust helps clients understand the key considerations involved in residential property finance and guides them through the process of exploring potential mortgage solutions. Whether you are buying a property or reviewing an existing mortgage, we help you approach the process with greater clarity and preparation.
Mortgage Guidance for Eligible Applicants
Mortgage Solutions for Different Property Requirements
Understanding Mortgage Eligibility
Financial institutions may consider several factors when assessing a mortgage application. These can include:
Understanding Your Potential Financing Amount
The amount a client may potentially qualify for depends on factors including:
- Income
- Existing monthly obligations
- Credit profile
- Age
- Employment or business history
- Property value
- Down payment
- Residency status
- Financial institution criteria
- Applicable regulatory requirements
Prime Trust can help you understand these factors before proceeding with a mortgage application.
For Salaried Professionals
Eligible salaried applicants may explore residential mortgage solutions based on factors such as:
- Monthly income
- Employer profile
- Length of employment
- Existing financial commitments
- Credit history
- Property value
- Available down payment
Prime Trust can help you understand the information typically required when assessing potential mortgage options.
For Self-Employed Applicants & Business Owners
Self-employed applicants may be assessed differently from salaried applicants. Financial institutions may consider:
- Business operating history
- Business turnover
- Profitability
- Personal income
- Company and personal bank statements
- Financial statements
- Existing liabilities
- Ownership percentage
- Credit history
- Source of income
Good documentation and clear financial information can help present the applicant’s profile more effectively.
Residential Mortgage for Eligible Non-Residents
If you live outside the UAE but are considering purchasing residential property in the UAE, you may be able to explore mortgage financing with certain financial institutions, subject to their eligibility criteria. Requirements can differ from those applicable to UAE residents and may depend on:
- Country of residence
- Income source
- Currency of income
- Employment or business profile
- Property type
- Property value
- Down payment
- Credit profile
- Source of funds
- Financial institution requirements
Prime Trust can help eligible non-resident clients understand the potential requirements and navigate the application process.
Mortgage Application Documents
The exact documentation depends on the applicant, property and financial institution. Commonly requested documents may include:
Salaried Applicants
- Passport
- Emirates ID
- UAE residence visa, where applicable
- Salary certificate
- Employment information
- Personal bank statements
- Existing liability statements
- Property documents
Self-Employed / Business Owners
- Passport
- Emirates ID
- UAE residence visa, where applicable
- Company documents
- Trade licence
- Shareholding information
- Personal and company bank statements
- Financial statements
- Business profile
- Existing liability information
Non-Residents
Requirements may include:
- Passport
- Proof of overseas residence
- Employment or business documents
- Income documentation
- Bank statements
- Tax-related documents, where applicable
- Source-of-funds information
- Property documentation
Your Residential Mortgage Journey
Discuss Your Requirement
Tell us about the property, your financial position and what you are looking to achieve.
Profile Review
We review relevant information to understand your potential financing requirements.
Explore Potential Options
We help you understand potential mortgage structures and applicable considerations.
Prepare Documentation
We help you organise the information and supporting documents required.
Application & Coordination
We assist with the application and coordinate with the relevant financial institution.
Review & Decision
The financial institution completes its assessment and makes the final decision.
Look Beyond the Interest / Profit Rate
When evaluating a mortgage, clients should consider the overall cost and structure, which may include:
- Interest / profit rate
- Processing fees
- Valuation fees
- Insurance-related costs
- Early settlement charges, where applicable
- Other bank or transaction-related fees
- Down payment requirements
- Monthly repayment
- Total financing cost
- Fixed vs variable rate considerations
Is Mortgage Refinancing Right for You?
Refinancing may be considered when a client wants to review their existing mortgage structure or explore potentially different terms. Before refinancing, clients should consider:
- Current outstanding balance
- Existing interest / profit rate
- Remaining tenor
- New financing rate
- Processing costs
- Valuation costs
- Early settlement charges
- New monthly repayment
- Overall financing cost
Prime Trust can help you understand the relevant considerations before you explore refinancing options.
Avoid Unnecessary Delays
Mortgage applications can become more complicated when:
- Documents are incomplete
- Income information is unclear
- Existing liabilities are high
- Bank statements contain unexplained transactions
- Business income is difficult to document
- Property documentation is incomplete
- Applicant information differs between documents
- Additional compliance information is required
Professional preparation can help you approach the process with greater clarity.
Professional Mortgage Guidance
Frequently Asked Questions
Eligible non-residents may be able to obtain residential property finance from certain financial institutions, subject to their requirements and applicable criteria.
Typically between 20 to 30%, However the required down payment can vary depending on factors such as the applicant’s profile, property type, property value, residency status and applicable financial institution and regulatory requirements.
Yes, eligible self-employed applicants may apply. Financial institutions may assess business history, income, financial statements, bank statements and other information.
Eligible clients may be able to explore refinancing options, subject to the relevant financial institution’s criteria.
A mortgage buy-out generally involves moving an existing mortgage from one financial institution to another, subject to eligibility and the applicable terms.
Eligible property owners may be able to explore a mortgage top-up or other additional financing structure, subject to the financial institution’s assessment.
The timeline varies depending on the applicant, property, documentation and financial institution.