UNI GLOBAL PROPERTIES

Loans & Mortgage

Provider	Abu Dhabi Commercial Bank
Available to	UAE Nationals, Expats.
Mortgage Tenor	25 years for all.
Interest rate	1. Base rate plus 2.5% for the first year. 2. Varying rate capped at 9.00% for three years. 3. Varying rate capped at 9.50% for 5 years. 4. Fixed rate of 8.50% for three years. Fixed rate of 9.00% for five years.
Maximum loan amount	As much as 90% finance offered, upto AED 3.5 million.
Insurance requirements	Life insurance, Loan insurance.
Minimum salary (AED)	10,000.00
Charges	Processing fee of 1%, minimum of AED 5,000. Repayment penalty 3% of the outstanding, 5% if bank buyout. Valuation fee upto 3,000.
Properties financed	Nakheel, Damac, Rose Tower 1, Sharjah. Emaar, Union Properties, Dubai Properties, Al Dar, Areef.
Documentation required	Passport copy, salary certificate, six months salary bank account statements, application form.
Contact	800-2030 or 800-56267

Provider	Amlak (Sharia'h compliant)
Available to	UAE nationals, GCC residents, UAE residents and non-UAE residents.
Mortgage Tenor	Upto 15 yrs for GCC, UAE & non-residents, 25 yrs for UAE nationals from 01/08/05 Amlak offers all new UAE resident customers upto 20 years on villas and townhouses.
Interest rate	Variable rate (residents): 6.75% for 70% and below 6.95% for 80% finance, 7.25% for 90%, (Non-residents 7.50%) Fixed rate (residents): 7-15 yrs 10.50%; 5 - 7yrs. 8.75% Upto 5 yrs. 8.00% (Non-residents add 0.50%).
Maximum loan amount	Depends on salary.
Insurance requirements	Not compulsory, can provide Islamic insurance solutions. Property insurance is compulsory, family protection is not.
Minimum salary (AED)	N/A
Charges	No early settlement charge. No partial repayment charges, 1% processing fee- Min. AED 5,000,Non-resident-1.25%- Min. -AED 5,000, Valuation fee upto 3,000.
Properties financed	Emaar, JBR, Al Fattan, Nakheel, Palm Developments.
Documentation required	Passport, Labour Card, Khulasat Qaid (ID card), salary certificate, 6 months bank statements, other income documents, copy of sale/ purchase agreement, proof of downpayments, cheque for loan processing fee.
Contact	Connect with Amlak 8000-4337

Provider	Habib Bank AG Zurich
Available to	UAE nationals & UAE residents.
Mortgage Tenor	Up to 15 years.
Interest rate	3.5% above 1year LIBOR, min. of 6.5% per annum.
Maximum loan amount	70% of loan to value ratio, upto AED 3,500,000.
Insurance requirements	Copy of Property & Life Insurance policies.
Minimum salary (AED)	12,000.00
Charges	1% of outstanding loan as early settlement charge. Processing fee1% of the loan amount or min AED 5,000.
Properties financed	Emaar, Nakheel & Istithmar.
Documentation required	For employed applicants - a salary transfer letter from the employer. For business owners/directors - trade licence & audited company financials, passport copy, 6 months bank statement, property & life insurance policies.
Contact	Call 04 331 3999 or visit the website: www.habibbank.com

Provider	HSBC
Available to	UAE and Non - UAE residents.
Mortgage Tenor	Up to 20 yrs. subject to repayment by 60th birthday. 20 yrs for villas and townhouse, 15 yrs for apartments.
Interest rate	Up to 70% = 6.75% variable, > 70-80% = 7% variable. HSBC can help with stage payments rqd. By approved developers using a Construction Finance Account, charged at 1.25% above the mortgage rate. Less 0.15% if salary transferred. Special rates offered for Phase 2 of Green Community.
Maximum loan amount	Depends on individual financial status. Standard precompletion properties is 80% of developer price, completed properties is 80% of market value as determined by an appointed valuer. (Valuation will be charged).
Insurance requirements	Mortgage protection policy & Buildings Insurance required.
Minimum salary (AED)	Depends on financial status.
Charges	Details can be viewed on www.uae.hsbc.com. 1% of the loan amount is levied as arrangement fee for the mortgage.
Properties financed	Al Hamra Village in RAK, Marina Heights Tower, JBR, Al Nakheel, Green Community, Emaar Villa's & Townhouses (but not apartments).
Documentation required	Passport, Current salary certificate, six month's bank statements, credit card statement, other income documents, copy of sale/purchase agreement.
Contact	Call 04 329 1568 or visit the website: www.uae.hsbc.com

Provider	Lloyds TSB
Available to	UAE residents, non resident UK expatriates only.
Mortgage Tenor	15 yrs.
Interest rate	7.5% variable, straight repayment mortgage. Lump sum repayments possible at no charge. Special rate of 6% offered for phase 2 of Green Community.
Maximum loan amount	Depends on salary.
Insurance requirements	Life cover is mandatory.
Minimum salary (AED)	12,000.00
Charges	0.5% arrangement fee on completed application. Valuation fee of AED 2,500. Fees can be added to loan amount. No early repayment penalties.
Properties financed	Emaar, Jumeirah Beach Residence, UP (The Green Community & UPTOWN Mirdif) and Nakheel soon.
Documentation required	Salary certificate, passport copies, six months bank statements, agreement of property sale.
Contact	04-342 2000.

Provider	Mashreqbank
Available to	Residents & Non - residents.
Mortgage Tenor	Up to 15 yrs.
Interest rate	6.95% fixed till Dec. 2005, then 4.99% + 3 months EIBOR with a minimum of 6.95% for residents & non - residents. Varies depending on the property.
Maximum loan amount	Up to 80% (of original property price) or max of AED 3 million.
Insurance requirements	Life and Property Insurance mandatory.
Minimum salary (AED)	10,000.00
Charges	1.23% processing fee on the loan amount.
Properties financed	Emaar properties, Istithmar Realty (JBR), Nakheel.
Documentation required	Application form , passport copy, bank statement, property documents, etc.
Contact	Call Mashreq Direct 04 2174800

Provider	National Bank of Abu Dhabi
Available to	UAE Nationals, Expats only in Abu Dhabi/Dubai emirates.
Mortgage Tenor	Up to 25 years for all.
Interest rate	Base rate + 1%.
Maximum loan amount	Up to AED 5 million.
Insurance requirements	Property and life Insurance.
Minimum salary (AED)	10,000.00
Charges	Processing fee AED 1,500 Minimum of AED 5,000, repayment penalty of 1% of outstanding, or AED 10,000 whichever is greater.
Properties financed	Residential only for expats, looked at on a case-by-case basis.
Documentation required	Passport Copy, sale receipt, transfer documents, salary certificate, six months bank statements, application form.
Contact	Call 8000-221.

Provider	National Bank of Dubai
Available to	UAE nationals, GCC residents, UAE residents and Non-residents.
Mortgage Tenor	20 yrs for UAE Nationals, 15 yrs for Expats, 12 yrs. For Non-residents.
Interest rate	7.65% on reducing balance basis. Special rates offered for Dubai Properties Business Bay.
Maximum loan amount	Multiples of salary for 60 months, or 80% of the property valuation (by the Land Department), whichever is lower.
Insurance requirements	Life and property Insurance mandatory. Monthly premium. 0.40% per annum of the loan amount.
Minimum salary (AED)	8,000.UAE Nationals, 10,000 Expats, 25,000 Non-residents.
Charges	1% processing fee, or AED 5,000 whichever is higher.
Properties financed	Emaar, Nakheel, JBR and Duabi Properties.
Documentation required	Passport, Labour Card, Khulasat Qaid (ID card), salary certificate, 6 month's bank statements, other income docs, copy of sale/ purchase agreement, proof of downpayments, cheque for loan processing fee.
Contact	24/7 Call Centre 04-310 0222

Provider	RAKbank
Available to	UAE nationals, Expats and Non-residents. Minimum age 21 yrs.
Mortgage Tenor	21 years for all.
Interest rate	6.50 - 7.25%, on reducing balance basis (salaried customers and self employed with audited financial statements), 6.50 - 7.75% (self employed), 6.50 - 6.70% (salaried with slalary transfer),7.00-7.50%(salaried with PDC).
Maximum loan amount	Depends on individual financial status - usually upto AED 5 million.
Insurance requirements	Property Insurance mandatory. Life insurance is optional.
Minimum salary (AED)	5,000 for single name ownership otherwise 8,000 for joint name.
Charges	Loan processing fee of 1.25% of loan amount. Early repayment penalty of 1% of the outstanding if within five years.
Properties financed	Nationals-open Expats-Emaar properties, Dubai Properties, Nakheel.
Documentation required	Passport, Labour Card, khulasat Qaid (ID card), salary certificate, six month's bank statements, other income documents, copy of sale/purchase agreement, cheque for loan processing fee.
Contact	Call RAKdirect - 04 2130000

Provider	Union National Bank Dream Home Loan
Available to	UAE Nationals, Expats.
Mortgage Tenor	UAE Nationals, 25 years Expats -20 years.
Interest rate	6.75% on a reducing balance basis depends on downpayment 10% - 6.75% flat rate 20% - 6.5% 30% - 6.25% Plus average of ADIBOR and DIBOR.
Maximum loan amount	Up to 5 million.
Insurance requirements	Property and life insurance included in loan 0.45% of loan amount applied for 50% of loan tenor, paid in advance.
Minimum salary (AED)	8,000.00
Charges	processing fee or 1%, minimum of AED 5,000 Early repayment penalty of 1% of outstanding , 1.5% for a bank buyout.
Properties financed	Emaar, Nakheel, JBR and Damac.
Documentation required	Passport copy, employment letter covers salary certificate and service, salary transfer letter, six months bank statements, sale receipt, downpayment receipt, transfer documents, application form.
Contact	Call 800-2600.