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We are a team of highly experienced mortgage brokers who are happy to help you with everything you need to know when you are looking to purchase your first home or investment property.
We are a team of highly experienced mortgage brokers who are happy to help you with everything
you need to know when you are looking to purchase your first home or investment property.
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Help You
with Refinancing
We will arrange cash out today on your fully paid completed units for land or residential, commercial and building
Will Arrange
Building Finance
60% finance available for new purchase or cash out on your existing building based on the rental income of building
Supporting
with Buyout
We will assist you on obtaining a relief from your existing bank charging you high rates by finding you the cheapest rates to reduce EMI
Finance
for Commercial & Land
Whether you are looking for a new shop, office, warehouse or land – we will find for you a suitable option on the market
Non Resident
Mortgage
Getting you up to 70% finance for your new purchase of residential or commercial or cash out on your fully paid property
Help You
with Refinancing
We will arrange cash out today on your fully paid completed units for land or residential, commercial and building
Will Arrange
Building Finance
60% finance available for new purchase or cash out on your existing building based on the rental income of building
Supporting
with Buyout
We will assist you on obtaining a relief from your existing bank charging you high rates by finding you the cheapest rates to reduce EMI
Finance
for Commercial & Land
Whether you are looking for a new shop, office, warehouse or land – we will find for you a suitable option on the market
Non Resident
Mortgage
Getting you up to 70% finance for your new purchase of residential or commercial or cash out on your fully paid property
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Mortgage Calculator
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So What Are The Benefits of Using an Independent Mortgage Consultant from Benchmark Mortgage Broker?
Usually you begin your search to buy a property by browsing online through property portals at houses for sale in your favourite areas - this, of course, is a good starting point, however, are you looking within your budget?
The importance of securing a mortgage pre-approval before beginning the search to buy a property is imperative. Even if it may seem premature wouldn’t you like to know exactly how much money you have to play with and not get your hopes up by looking in areas well above your budget, or perhaps the opposite – you have a larger budget than you first thought.
Our dedicated in-house mortgage team is on hand to support and assist you when it comes to finding the right mortgage.
Benchmark Mortgage Broker is one of the top mortgage consulting licensed by Dubai Economic Department and officially listed with all major banks or lending companies in UAE.
Being platinum partner with most banks, our clients are treated exclusively and every case is handled by dedicated Rm’s associates only for our company in the bank.
Why Getting a Pre-Approval at The Beginning of Your Property Search Can Make a Big Difference?
The benefits of a pre-approval are undoubtedly endless and essential for home hunters. If you already have a pre-approval in place you know your affordability when beginning your property search. You have solid knowledge in place of what fees are expected upfront and be clear on how much cash you will need to complete a transaction. Additionally, you will know how much your monthly repayments will be thus giving you confidence when communicating with agents and negotiating with sellers.
As well as this, when the right property comes along, you are in the best possible position to make an offer. You are ready to take the next step and avoid lengthy delays if you were to then approach a bank to start the pre-approval process.
The advantages of a pre-approval are also of many benefits to sellers. A seller will appreciate the readiness of the buyer when an offer with a pre-approval is presented. If you are a seller you don’t only look to get the best price for your property but want to make the process of selling as simple as possible for yourself and the buyer.
Benchmark Mortgage Broker is one of the top mortgage consulting licensed by Dubai Economic Department and officially listed with all major banks or lending companies in UAE.
As a buyer, you save yourself the heartache when you find your dream home only to lose it because you didn’t have a mortgage pre-approval in place at the time of placing an offer.
Who is The Owner of a Mortgaged Property and Who Has The Rights to Use It?
The bank or financial institution is the owner of the property till the outstanding loan is due, but customer has the full right to use it by himself or utilize it for availing income.
If I Had Already Applied and My Case Was Not Approved by a Bank, Can I Still Take Assistance from Benchmark Mortgage Brokers?
Yes, any customer who has previously applied with any bank (s) can still contact us to avail our professional assistance. There are chances that the bank which declined the case may not have the policy of catering such profile client.
We deal with almost all the lenders of the market and we have better understanding about the lending policies of different banks, so we can find a solution. Considering client’s case, we can offer to a client the best available option which caters his requirements.
If I Have The Required Down Payment Available. What Are The Other Charges Involved in The Transaction?
For completed properties banks usually pay their share of payments once all formalities have been completed (including the down payment from client’s side) and on the Transfer Day by “Manager’s chq” which will be under the name of seller/sellers and can be encashed only on the payee account(s). The bank will not issue the cheque under any other name or handover it to any third party including family members, partner, friends, POA, agents etc.
For off-plan projects, once all formalities are done, bank will release its share only once the client have completed paying his/her part of 50% or more to the seller/developer as agreed between bank and the client. After this bank will release the amounts as per the payment plan of developer. The payment will be made to exact concerned party as per contract and will not be paid to anyone else.
It is strictly advisable to always share such issues that are defined above at the time of initial discussion with your financial expert (before signing MOU or giving deposit cheque) to avoid any kind of loss at the final stage.
Is There Anyway That I Can Cover The Down Payment or The Transfer Charges by Availing Personal Loan?
As per central bank regulations, it is not allowed to avail personal loan (cash loan) to utilize as down payment or any part of it, however we can arrange personal loans for the clients 5-10% extra of the finance value to cover the other costs like transfer fees, buying new furniture for the house etc. if clients eligibility allow this.
How and When Does a Bank Make The Payment to Seller/Developer in The Mortgage Transaction?
There is pre-approval fees (approx. 1000 – 3000) depending upon the bank which will be adjusted in processing Fees later. However, Benchmark Mortgage Broker’s clients can avoid pre-approval fees as our most partnering banks give this exclusive option for our clients.
There is also evaluation fees starting from AED (2500). Please be advised that it can increase depending upon the property type, size etc.
There is an arrangement/processing fees, that is charged by the bank starting from 0.75% till 2% of finance value depending upon the transaction type.
There is 4.25% transfer charges (4% transfer charges+0.25% mortgage registration charges) plus AED 4000 as Administration fees of DLD/trustees office and approximately cost of new title deed issue in amount of AED 600.
There can be additional cost up to 2% of the property value to be paid to real estate brokerage company.
Svetlana Mak
Senior Advisor
of Benchmark Mortgage Broker
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+971 55 986 5180
Office 2102, ETA Star Al Manara Tower
Business Bay, Dubai, UAE
Никита Кузнецов
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Metropolitan Premium Properties