Mortgages

Our Mortgage Expert

Since moving to the UAE, Adriaan Rossouw has established himself as one of Dubai’s top mortgage brokers.

His diligent approach to client service and product knowledge has helped him assist investors and first-time homebuyers in securing their best mortgage based on their needs.

With over 10 years of experience as a mortgage broker and investment banker, Adriaan has developed a strong work ethic toward client relationship management that extends beyond securing the best rates in the market.

By understanding his client’s needs, he curates an approach to mortgage finance that aligns with current and future property ownership and investment goals.

Originally from South Africa, Adriaan speaks fluent English and Afrikaans and hopes to work toward creating a positive and enlightening experience for brokers and property buyers in the UAE.

Apex Solutions

1. What are the requirements for obtaining a mortgage in Dubai?

A lot depends on a client’s situation, but as an employee, you’ll normally need 6 months of income history, and as a business owner, you’ll need at least 2 years of experience.

2. How much of a deposit do I need to put down?

Expats: A minimum of 25% deposit is required for their first mortgage up to a property worth of AED 5 million; over AED 5 million, this increases to 35%.

The minimum deposit for subsequent mortgages is 40 percent.

Emirati citizens: A 20% deposit is required up to a property worth of AED 5 million, with a 30% deposit required over AED 5 million.

For whatever reason, it’s 40%. mortgages that follow

3. What sorts of mortgages are there?

In the United Arab Emirates, there are three types of mortgages:

– Variable rate, which fluctuates based on the interest rate.

– Fixed rate: Your payment is set for a set period of time.

– Hybrid mortgages, which combine fixed and variable rates, are available.

What is best will be determined by the conditions and requirements of the customer.

4. There is a standard framework that the all banks will adhere to.

– Firstly, would apply for a ‘pre-approval,’ which is when we submit a set of documents to the chosen bank in order for them to provisionally approve the mortgage. – Next, the client will look for a property and sign a sales contract. – Finally, the bank will instruct an independent surveyor to visit the property and produce a valuation report.

– If the valuation report is satisfactory, the bank will issue a final written offer, which is the official contract between the bank and the client.