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Our 21 Step by Step guide below give you an insight of the process of buying your first home
Our mortgage experts will be with you every step of the way. On hand 7 days a week if you need us.
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Below you will find our Guides and our 21 Step by Step process

The Mortgage market is incredibly competitive and complicated, it can be hard to understand what exactly is on offer. There are many different providers and a wide range of mortgage products and rates available, which can complicate the process. It is a good idea to talk to one of our mortgage specialist at Gulf Coast Finance, before making your mind up. This guide will take you through the routes to getting a mortgage and the importance of studying your options before making a decision. Below we have created a step by step guide which we will be here on hand to advice and guide you through out the whole process
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Step 1

Fact Find completed with client (s) in order to consider eligibility of obtaining a mortgage.

Step 2

The documents required by the bank – provided to Mortgage Broker.

Step 3

Mortgage Broker arranges meetings with the banks to research whole UAE market on client (s) behalf.

Step 4

Mortgage Broker presents recommendation of mortgage products available and discusses the terms of the loan.

Step 5

Mortgage Broker confirms the specific bank criteria and the banks process.

Step 6

Mortgage Broker packages the case and meets with the bank to submit the application.

Step 7

Average of 48 working hour’s credit come back to Mortgage Broker with any questions on the case.

Step 8

The Pre-approval is then issued.

Step 9

Client typically has 60-90 days to find a property. (If goes beyond – possibility to resubmit for an extension)

Step 10

Client views and offers on property after liaising with Mortgage Broker on market advice.

Step 11

Once offer is accepted, the real estate agent will prepare the MOU (Memorandum of Understanding).

Step 12

** VERY IMPORTANT ** MOU taken by Mortgage Broker to make any additions and to offer additional protection to client.

Step 13

Client signs MOU and then has typically 45 days to transfer property.

Step 14

Mortgage Broker to liaise with agent to obtain floor plan, Title Deed (if applicable), Sellers documents etc.

Step 15

Mortgage Broker takes cheque from client (approx AED 3,000) for the property valuation.

Step 16

Valuation done within 2-3 days.

Step 17

Assuming valuation is okay, final offer of the mortgage is made.

Step 18

Mortgage Broker, Bank and client meet to discuss the final offer.

Step 19

Client signs Final offer and remaining paperwork for the bank to release the monies.

Step 20

Mortgage Broker liaises with client, agent, and bank to regarding NOC from the developer and transfer at Dubai Land Department.

Step 21

Transfer Completed, Client receives keys to the property.

The key things you need to know about buying your first home
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