Dubai Mortgage For A British National Living In Saudi Arabia
22nd May 2023
Key Facts:
- Borrower: British national resident in Saudi Arabia
- Security: AED 3,950,000, Dubai Villa
- Loan Amount : AED 1,950,000
- Product: 3-year Fixed
- Interest Rate: 5.22%
In this case, we were approached by a British national who holds residency in Saudi Arabia. The client’s family are based in the UAE and the client spends time between the two places.
The real estate market in Dubai has seen a surge in activity in recent times with property prices increasing and demand outstripping supply. Our clients had an opportunity to acquire the property they had been renting and needed to move quickly in order to secure the price negotiated.
Whilst non-residents can purchase property in the UAE, there are a number of limiting factors around what products are available, and typically, non-resident mortgages are priced at a premium. We were able to negotiate the interest rate so as to mirror those applicable as a resident of the UAE. We completed the transaction within two months of submitting the application.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
