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Is it possible to get mortgages for property in Dubai?
Yes Amlak, Tamweel, HSBC, Lloyds, MashreqBank, RAKBANK, National Bank of Dubai, United National Bank, Arab Bank, Abu Dhabi Commercial Bank, Standard Chartered Bank and United Bank Ltd (Pakistan) are just some of the banks that lend on Dubai property, both on and off-plan. Each one has different rates and terms, and some only lend to residents. You can also now get mortgages internationally for property in Dubai. HSBC I the UK, for example, will lend asset backed mortgages against a property you own there. Other banks are starting to do the same.
What are mortgage rates in Dubai?
On the whole, and in comparison with international rates, rates are considered to be expensive at between 6-8% . But these are not asset backed as they would generally be were you to get a mortgage for a Dubai property somewhere else in the world. Mortgages in Dubai depend on your income as the main factor.