The process of getting a mortgage or home loan in Dubai can be particularly stressful given the number of banks, the many eligibility criteria that apply to residents and expats differently, the different fees charged, and the competitive nature of the property market.
Not only can the wrong mortgage application lead to weeks of waiting when an eligible customer's request was denied, but it can also cause the loss of a property if the paperwork was submitted too late. This is why Leom, a UAE-based mortgage brokerage, suggests comparing and then applying for home loans, mortgages, and property finance so you can get a suitable deal for the best price and terms from the first application. Here's how Leom can assist in getting the most out of a mortgage or home loan in Dubai.
1. Leom Compares 20+ UAE Banks, Not Just One
Each bank has its own set of requirements for different categories of borrowers, as well as its own rates and fees. By only visiting one bank, you limit yourself to the options they offer. Leom has access to the lending criteria, rates, and fees of 20+ UAE banks including Emirates NBD, First Abu Dhabi Bank, ADCB, Mashreq, HSBC, Standard Chartered, Dubai Islamic Bank, ADIB, RAKBANK, Emirates Islamic, Commercial Bank of Dubai, United Arab Bank, and National Bank of Fujairah.
This means you're not limited to whichever bank you happen to be nearest to. You can compare the offers of multiple lenders at once, which we do for free. You only pay for what you use at closing.
2. You Decide What You Need, We Tell You What You Can Afford
Every buyer is different. Whether you're an Emirati buying your first property, a non-resident buying from overseas, or an investor refinancing an existing mortgage, you'll need tailored guidance. We offer a free 20-minute initial consultation to understand your situation before suggesting any options. There's no pressure, and we can even run a pre-approval for you before you start looking, depending on your residency and income status.
3. Mortgage Calculators So You Can Decide What You Can Actually Afford
Before you start buying, you should know how much mortgage you can afford to ensure you don't fall in love with something unattainable, or settle for much less than you're capable of borrowing.
That's why our mortgage calculators are so useful, and why we suggest using them before you start looking:
- See how much you can borrow, depending on your income, EMI, residency, and occupation
- Know how much you'll be paying each month, for however long you intend to hold the mortgage
4. Guidance Specific to Your Mortgage Needs
Your requirements may vary depending on whether you're a first-time buyer, a non-resident buying from abroad, or an investor looking to buy out an existing mortgage. Leom's approach means we guide you according to your needs. For example:
- First-time buyers: We advise on the size of your deposit and your offer strategy depending on your pre-approval status. You can even have us help you get pre-approved before you start looking so you're ready to put in an offer as soon as something suitable comes along.
- Non-residents and expats buying from overseas: You may be paid in another currency, or have to sign mortgage documents from abroad. We work with specific UAE banks that offer overseas income mortgages and accept remote signing, which not all lenders do.
- Buyout and restructuring: If you already have a mortgage with a floating rate above 4%, you could be wasting thousands of AED per year by not switching to a lower fixed rate. We'll advise whether switching lenders makes sense, taking into account the one-off restructuring fee.
- Equity release: Want to buy a second property, or pay for renovations, a business setup, or school fees with the equity tied up in your existing home? We can help you release cash against your property in the UAE.
- Islamic home finance: We can advise on the best Sharia-compliant mortgage option (Ijara or Murabaha) depending on your situation, and compare these to conventional mortgage options in the UAE.
- Land finance, residential mortgages, and commercial mortgages: We offer specialised advice for plots, handover properties, self-employed applicants, and corporate borrowers — cases that are often more complex.
5. Assisting With Paperwork and the Bank's Requirements
Applying for a mortgage requires a lot of documents. You'll need passport and visa copies, a salary certificate or trade licence, bank statements for the last 6 months, and details about the property. We'll help you go through your chosen bank's requirements in advance so you can prepare everything, reducing the chance your application is rejected after you've put in a deposit.
We can also assist with communication with the bank, as we understand their requirements and can help you prepare any additional documents if needed.
6. One Dedicated Relationship Manager Throughout the Process
With many large banks, you'll often speak to different people in the call centre whenever you have a query, who may not have all the information about your case. With Leom, you'll always speak to the same relationship manager who knows your situation and can help you make the most of your options.
7. Full Breakdown of All Costs Involved Before You Commit
Banks tend to hide additional costs aside from the mortgage arrangement fee, such as the valuation survey, life insurance, DLD fees, and trustee fees. We give you a full breakdown of the costs involved with a mortgage before you commit to any offer, so you know exactly what to expect and can compare offers accurately.
8. Structured Advice Based on How Long You Want to Hold the Mortgage
Your mortgage needs are likely to change depending on how long you intend to hold the property. If you're buying for investment and intend to sell within 5 years, a mortgage with a floating rate and a shorter term may make more sense than one with a fixed rate and a longer term. We can advise on how long you should take out your mortgage for, depending on your investment horizon.
9. Regulation, Security, and a Hassle-Free Process
We operate under UAE mortgage broking regulations and keep your personal information on secure servers located within the UAE, where most of your documents and personal information will be processed.
What the Process Looks Like With Leom
- Free consultation — A 20-minute call to learn your goals and property plans
- Whole-of-market comparison — Leom compares the rates and terms of more than 20 lenders based on your profile
- Pre-approval — Usually takes 3–5 working days
- Valuation to disbursement — Final approval and funds release, typically within 2–3 weeks depending on documentation
The Track Record
We have arranged more than AED 100 million in mortgages for our clients in the UAE and have established relationships with more than 20 banks and lenders. We have a mortgage pre-approval success rate of 96% and an average customer rating of 4.9/5.
Get Started
Whether you're buying your first apartment in Dubai Marina, looking to refinance your existing mortgage, or considering finance for a second property, Leom will guide you through a process that can be unnecessarily complex and stressful.
Check your mortgage eligibility with Leom's free calculator, or compare mortgage rates to speak with a named advisor — no obligation, no credit check at this stage.
Frequently Asked Questions
Is there a cost for the mortgage broking service provided by Leom?
There is normally no cost for Leom's mortgage broking services, as the service fee is usually paid by the lending institution upon approval of the mortgage application. By using Leom's service, you may be able to cut your time spent comparing costs among 20+ banks to zero.
Can Leom help if I'm not currently living in the UAE?
Yes. Leom works with lenders that specifically underwrite non-resident and overseas income, including remote signings.
How long does it take for Leom to get me pre-approved?
Pre-approval usually takes 3–5 working days. Full approval and disbursement can take another 2–3 weeks.
Can Leom assist me if I want to refinance my mortgage?
Yes. If you have an existing mortgage with a rate higher than 4%, Leom can advise whether it is worth refinancing and help you identify which buyout option would be optimal.