Articles

Types Of Finance & Mortgage Services In UAE

by Sagar Chauhan Digital Marketing Analyst
Getting a finance or mortgage service has assisted many property buyers in making property purchase even though having insufficient funds. While mortgage services enable the property buyers to get loans to buy property, there are different finance services that enable a property owner to get another loan for or on their existing property. Whether one is taking a first-time loan or is getting a loan on another property, one needs to take mortgage and finance services to get their needs sorted. There are different types of finance & mortgage services available for the property buyers and owners alike. Here is a list of different types of finance & mortgage services available in UAE.

·    Residential Mortgage
This is one of the most common types of mortgage services offered by the mortgage service providers in UAE. Most of the homebuyers take a residential mortgage for their homes to get the finances. The residential mortgage service providers are well-informed about the requirements, eligibility, and interest rates etc., for a mortgage for a residential property.

·    Commercial Mortgage
Another common type of mortgage service availed by the property buyers is commercial mortgages. Those looking for a mortgage for their commercial property look for commercial mortgage services. These mortgages enable the commercial property buyers to purchase their desired property without getting restricted by the finances.

·    Buyout Services
Mortgage buyout service is a type of refinance option for the co-buyers of a property like a married couple to make use of the equity in the home for buying out the other co-owner. Separated couples or buying partners require this sum to buy out their co-partner in case of separation. Buyout services enable one of the partners to get the refinance to buy the other partner out from the property and get full rights.

·    Non-Residential Mortgages
Another type of mortgage that is popular among the property buyers is non-residential mortgage. This is for the foreign nationals, living abroad, who want to buy a property for them in a particular nation. Whether the property is for personal use or for investment purpose, a non-residential mortgage service can help the buyers get the finances right.

·    Equity Release
For those who desire to get a steady income or a lump sum against their home can get equity release services. The property owner can get a steady flow of income on their property but the income provider get a share of the property after a certain period or after the death of the property owner. Equity release services enable the people to get the best price for their property.

·    Refinancing
Refinancing services help a person find the best refinancing solution with the lowest interest rate for the existing mortgage. They let the people know about the change in the rate environment and help them find a new plan with a lower interest rate.

These were the top finance & mortgage services in UAE that are also commonly availed by the property buyers in other countries. Every property buyer or owner should know about these services to get their finances right.

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About Sagar Chauhan Senior   Digital Marketing Analyst

167 connections, 3 recommendations, 550 honor points.
Joined APSense since, November 30th, 2016, From Delhi, India.

Created on Oct 17th 2018 04:23. Viewed 325 times.

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