Category Blog

How Do Banks Release a Property Mortgage?

How Do Banks Release a Property Mortgage?

A Property Mortgage Release is the process of removing a registered mortgage from a property after the required financing obligations have been settled and the necessary formalities are completed. In the UAE, the bank or finance provider typically issues a…

How Does a Power of Attorney Affect Home Finance?

How Does a Power of Attorney Affect Home Finance?

A Power of Attorney for Home Finance allows a property buyer or owner to authorise another person to handle specified tasks on their behalf, subject to the document’s scope and the bank’s requirements. In the UAE, this may help when…

Can You Make Extra Payments on Islamic Home Finance?

Can You Make Extra Payments on Islamic Home Finance?

Extra payments on Islamic home finance may be possible in the UAE, depending on your finance agreement and your provider’s policies. If you have additional savings, receive a bonus, or earn extra income, you may want to pay more than…

Does Bank Account History Affect Islamic Home Finance?

Does Bank Account History Affect Islamic Home Finance?

Bank account history Islamic home finance applications can be closely connected because Islamic banks and home finance providers may review your bank statements to understand your income, expenses, savings, and existing financial commitments. If you are planning to buy a…

Does Your Employment Contract Affect Islamic Home Finance?

Does Your Employment Contract Affect Islamic Home Finance?

Buying a property in the UAE involves more than choosing the right home and arranging a deposit. Your Islamic home finance employment contract can play an important role in the application process because banks and Islamic finance providers may review…

Can Service Charge Arrears Affect Islamic Home Finance?

Can Service Charge Arrears Affect Islamic Home Finance?

Service charge arrears can complicate a property purchase in the UAE, particularly when a buyer is arranging Islamic home finance. Unpaid service charges may need to be clarified or settled before a property transaction can proceed, depending on the property,…

What Happens if Your Property Valuation Expires?

Property valuation documents for an Islamic mortgage in the UAE

Expired property valuation can create an additional step when you are applying for an Islamic mortgage in the UAE. If your property valuation report is no longer accepted by the bank when your home finance application reaches the next stage,…

Can a Bank Withdraw an Islamic Mortgage Offer?

Can a Bank Withdraw an Islamic Mortgage Offer?

Islamic mortgage offer withdrawal is a concern for UAE property buyers who have received an initial approval or a home finance offer but have not yet completed their purchase. In some circumstances, a bank may change or withdraw a conditional…

Can You Apply for Islamic Home Finance Remotely?

Islamic home finance remotely in the UAE

Applying for Islamic home finance remotely may be possible for some applicants in the UAE, depending on the finance provider, applicant’s residency status, document requirements, and verification process. Digital applications can make it easier to begin the process without visiting…

What Happens After Home Finance Approval?

What Happens After Home Finance Approval?

Getting home finance approval is an important milestone, but it is not usually the final step in buying a property. After approval, there are still several steps to complete before the property purchase and financing are finalized. For buyers using…