Gulf Coast Finance can obtain the mortgage be pre-approved well in advance, and this could save both time and money. Please arrange a call back to speak to our mortgage consultants who can advice you further.
Our Buying Guides will give you a breakdown of the whole process of purchasing a property in your chosen location, who is involved and the timescales.
Many sellers will not accept an offer, unless it can be proven funding is in place or has been Pre-Approved. For the purchase of a re-sale property, the closing date will typically be set at 30-45 days after the signing of the sales contract, and some contracts may impose financial penalties for late closing/completion.
Mortgages on property abroad are normally available to a maximum of 75% loan to value and for up to 25 years, although there are exceptions to this. Mortgages are normally based on affordability and suitable proof of income will be required. As a rule, the debt to income ratio should not exceed 50%, although there are exceptions to this. For some loans, limited documentation is required.
A local bank account will normally need to be opened, to enable the payment of local, Exchange rates can greatly affect the cost of an overseas property purchase. Deposits and closing fees would normally be converted from your home currency to the currency of the country you are buying in. At Gulf Coast Finance, we work with all the major currency companies in the UAE, whom we can advice you.
We know how important it is for you to have an idea of the some of the best mortgage rates that may be available to you.
We pride ourselves in giving our clients the best service.
Here’s what some of them have been saying about us.
“Transparency and Professionalism throughout the whole process ”Mr Alexander, UK
“Overall they saved me 5000AED a Month, and secured me a excellent rate on my mortgage”Mrs Sofia Ahmed ,Dubai
“Got me a pre-approval within 3 days, Definitely will use again”Mr Mistry, India