And How Does It Affect Australian Expats?
At the Atlas Wealth Group, we are committed to providing our clients with the best solutions to meet their financial goals.
For years we have been the leading provider of Australian mortgage broking services to expats through our Atlas Mortgages division and assisting them with their mortgage needs back home in Australia.
However with more and more Australians calling Dubai, Abu Dhabi and the rest of the UAE home, we wanted to find a local solution for our clients as well the Australian expats in the region.
UAE Expat Mortgage Solutions
That’s why we partnered with Dubai-based finance specialists Holo to bring you our online and fee-free UAE mortgage broking service.
With over 25 years of regional expertise, Holo offers 500+ mortgage products from UAE lenders to both residents and non-residents, making the UAE property market more accessible than ever.
Whether you are looking to buy in Dubai, Abu Dhabi or any of the other emirate’s expats now have an end to end solution for their mortgage needs with our services covering both Australia and the United Arab Emirates.
As the only Australian financial services firm in the UAE, we know the UAE market inside out and can assist you with your local mortgage needs, be it to live in personally or for investment purposes.
If you would like to find out more or enquire about a UAE mortgage with Holo contact your dedicated Atlas financial planner or if you a new to Atlas, feel free to get in contact to discuss your options.
Some of the Most Common Questions Regarding a UAE Mortgage
1. What is a mortgage pre-approval? A mortgage pre-approval is a letter from a bank indicating preliminary approval of your loan amount, subject to property valuation. It’s typically valid for 60 days and boosts your credibility with sellers.
2. How does salary transfer affect mortgage installments? Transferring your salary to the lending bank may qualify you for preferential interest rates. Some mortgage rates are contingent upon salary transfer, while others are not.
3. What fees are associated with obtaining a mortgage? Expect a bank valuation fee ranging from AED 2,000 to AED 3,000, plus a bank processing fee of 0–1% of the loan amount. Additional costs include real estate agent fees, land department or municipality fees, and mortgage registration fees. Some banks allow incorporating a portion of these fees into the mortgage.
4. What is the difference between fixed and variable interest rates? A fixed-rate mortgage maintains the same interest rate for a set period (usually 1–5 years), providing payment stability. After this period, it typically shifts to a variable rate. Variable rates fluctuate based on the Emirates Interbank Offered Rate (EIBOR) plus a bank-specific margin, causing your payments to vary over time.
5. Can I include property purchasing costs in my mortgage? Many banks permit adding a percentage of the associated purchasing fees into the mortgage, reducing upfront expenses.
6. Why choose a bank through Atlas Wealth Group & Holo? Holo simplifies the mortgage process by comparing over 500 products from various UAE lenders to find the best deal tailored to your profile, available 24/7.
7. Can I leave the UAE if I have a mortgage? Yes, but you must inform your bank. Together, you’ll determine how to manage the mortgage after your departure. Transparency with your lender is crucial.
8. What are the current mortgage rates in the UAE? Mortgage rates fluctuate with Central Bank interest rates. For the latest rates and suitable products, consulting a mortgage expert is advisable.
9. Why is mortgage pre-approval important? Having pre-approval signals to real estate agents and sellers that you’re a serious buyer, increasing the likelihood of your offer being accepted.
10. What types of mortgage products are available in the UAE? Options include residential, non-resident, and commercial mortgages. Both variable and fixed-rate mortgages are offered, as well as Islamic mortgages for Sharia-compliant financing.
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General Advice Disclaimer
The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Atlas Wealth Management Authorised Representative before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Atlas Wealth Management nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.