Why Borrowers In Dubai Are Now Seeking Credible Mortgage Advice

Dubai is now one of the most sought after locations in the world. In fact, expatriates and foreign investors are now considering this emirate as a major business hub in the UAE. Although buying a property in this emirate is not that simple especially if you don't have the money to secure a property of your choice. That's why it's essential for you to take out a mortgage, but you need to get the best mortgage product based on your current circumstance.

People who are thinking about buying a property using mortgages are now seeking the help of mortgage brokers, since they can provide more options than banks. According to a recent study conducted by the Central Bank of Dubai it was revealed that mortgage brokers have increased their market share across the board on 2013. This is a clear indication that clients are finding the solutions provided by brokers more beneficial than those offered in banks.

Usually, brokers have access to over 300 mortgage products in Dubai, but they can also offer high quality properties that are not normally sold on the property market. Furthermore, brokers can provide several specialized services like:

  • They will prepare all the needed documents and communicate the terms between the mortgage provider and the borrower to ensure a smooth process
  • Borrowers can also save a lot of time and money, since they will guided by their broker until they secured the mortgage loan
  • Most importantly, brokers will provide an unbiased assessment of their client's financial situation and will only offer loans that are suitable to the borrower's financial capacity

These are the main factors why borrowers are now choosing brokers in securing the most favorable loan available to them. That's why even high value mortgage clients are now relying on brokers to find the right deal on the property market. Typically, these professionals are certified by RERA, a government body that has full authority and responsibility to regulate the real estate sector in Dubai.

A professional mortgage broker in Dubai know the laws and regulations pertaining to real estate financing in the UAE. These laws are designed to protect the rights of the consumers. Brokers will adhere to these laws since they are regulated by the government. There are constantly new regulations and new products hitting the market all the time. Licensed Mortgage Brokers will be updated by RERA to these changes, so they can provide the most ideal service to their clients.

However, it is advisable to check the track record of a particular broker before you decide to hire them. Always remember, using a credible mortgage broker will enable you to find the right deal from the right lender.

Gordon Robertson is a certified broker and licensed by the Central Bank of Dubai. His company, MortgageME is one of the leading commercial mortgage company in the UAE that provides unparalleled service in guiding their clients to the loan process. Checkout the most reliable mortgage calculator in Dubai through their website.

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