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Loan Against Property
Getting a loan can be a difficult task in the Emirates. Banks and financial institutions are usually reluctant to lend money to people who do not have a credit history in the country. Moreover, the process of getting a loan approved can be quite lengthy and complicated
One of the best options for getting a loan in the UAE is to apply for a loan against property. A loan against property is a secured loan where the borrower pledges his/her property(residential property or commercial property) as collateral to the lender. The lender then provides the borrower with the loan amount, which can be used for any purpose.
The main advantage of taking a loan against property is that it is relatively easy to get approved. To choose the Best Mortgage Loan in UAE, it is important to compare different offers from different banks and financial institutions. It is also important to consider the interest rate, repayment period, and other terms and conditions of the loan before making a decision. eMortgage can help you with all your mortgage needs in Dubai, contact us to know more about it.
Documents required to take Loan Against Property for UAE nationals
The documents required to take out a loan against property will vary depending on the lender. However, some of the common documents that you will need to provide include:
- Your passport
- Your Emirates ID
- Your salary certificate
- Your property title deeds
- Proof of income
- Proof of address
- 6 months bank statements/ financial statements
You’ll also need to accept the terms and conditions of the loan agreement and pay processing fees and other charges. Emortgage is the best and easiest way to apply for a loan against property in UAE. Connect with us for more information.
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