1. What is the DAMAC Mortgage Advisory?
The Mortgage Advisory at DAMAC Properties Co. L.L.C is engaged in facilitating and procuring mortgages exclusively for DAMAC clients all over the world.
2. How does it help me?
The Mortgage Advisory helps you in procuring the most suitable loan for your home or office. Our Mortgage Advisors will hand-hold a DAMAC customer or prospect and suitably facilitate the mortgage process with the lending institution.
3. Who can use the services of the DAMAC Mortgage Advisory?
Any UAE resident or non-resident who has already purchased or considering to purchase a DAMAC residential property can use the services of the Mortgage Advisory. UAE-established businesses can also avail our services for financing their commercial property developed by DAMAC. (Commercial property finance is strictly available to UAE-established businesses only). Loans are however granted at the discretion of the lending institution.
4. Which banks/home finance companies can I expect the loan from?
The Mortgage Advisory will assist you in procuring one of the best mortgages from any of the following banks/home finance company (hfc):
5. Are Shariah compliant options available?
Yes, Shariah compliant Islamic mortgages are available (for residential property only) from Islamic finance institutions, Amlak, Badr Al-Islami and Mawarid.
6. Do I need to pay for availing the services of the Mortgage Advisory?
No, there is no payment associated with this service. DAMAC offers this service to its customers free of charge.
7. Can I check my loan and then decide the property?
Yes, pre-approval facility is available. You can check the extent of your loan before finalizing the property.
8. How soon can I expect my loan to be approved?
It will take a maximum of 10-12 working days to get the approval / pre-approval for your loan, subject to submission of all required documents.
9. Can I get a mortgage for any DAMAC project?
UAE resident customers can avail mortgage loan options for the following residential projects:
| S.No |
Mortgage Lenders |
Project |
| 1. |
Al Wifaq / Commercial Bank International / National Bank of Abu Dhabi / Union National Bank / United Bank Limited |
All residential projects |
| 2. |
Arab Bank / Doha Bank / Mawarid |
All residential projects in Dubai |
| 3. |
Abu Dhabi Commercial Bank |
All residential projects except Lincoln Park and Tuscan |
| 4. |
Mashreq / Badr Al Islami |
Emirates Gardens 1 & 2, Lago Vista, Lake Terrace, Lake View, Lotus 1, Ocean Heights, Park Towers, The Crescent.
|
| 5. |
Noor Islamic Bank |
The Waves, Marina Terrace, The Crescent, Lake View, Lake Terrace |
| 6. |
Amlak |
Lago Vista, Ocean Heights, Park Towers, The Crescent |
|
UAE non-resident customers can avail mortgage facility options for the following residential projects:
| S.No |
Mortgage Lenders |
Project |
| 1. |
Al Wifaq / United Bank Limited |
All residential projects in Dubai |
| 2. |
Arab Bank / Mawarid |
All residential projects in Dubai |
| 3. |
Doha Bank (for residents of Qatar only) |
All residential projects in Dubai |
| 4. |
Amlak |
Lago Vista, Ocean Heights, Park Towers, The Crescent |
| 5. |
Mashreq / Badr Al Islami |
Emirates Gardens 1 & 2, Lago Vista, Lake Terrace, Lake View, Lotus 1 Ocean Heights, Park Towers, The Crescent |
For UAE-based business establishments looking forward to purchase a commercial property, commercial mortgages can be organized from the business banking division of Abu Dhabi Commercial Bank, and National Bank of Abu Dhabi.
|
