Mortgages
Equity release
You own a property in the UAE outright, or your mortgage is much smaller than the property is now worth. A bank can lend against the difference. You keep the property and repay over up to 25 years.
How much you can raise
The bank values the property, applies its loan-to-value limit, and subtracts anything you still owe. On a property valued at AED 2,400,000 with AED 600,000 outstanding, an 80% limit gives a maximum loan of AED 1,920,000, so you could raise up to AED 1,320,000 before fees. Your income still has to support the repayment under the 50% debt burden rule.
Banks treat equity release on an investment property more cautiously, with lower limits. Some also ask what the money is for.
What people use it for
Deposits for a second property are the most common reason we see. Business funding, school fees and paying off more expensive personal loans come up too. A personal loan at a higher rate can sometimes be replaced this way, which lowers the total you pay each month.
Documents to have ready
If you are salaried
- Passport, residence visa and Emirates ID
- Salary certificate dated within the last 30 days
- Last 6 months of bank statements showing your salary
- Last 3 to 6 payslips (some banks ask for these)
- Title deed for the property
If you are self-employed
- Passport, residence visa and Emirates ID
- Trade licence and memorandum of association (most banks want 2+ years trading)
- 6 to 12 months of personal and company bank statements
- Audited financial statements for the last 2 years
- Title deed for the property
Banks can ask for more depending on your case. We send you a checklist for your specific bank once we know which one fits.
Questions about equity release
Do I have to own the property outright?
No. If you have a mortgage, the new loan pays it off first and the rest comes to you. That is a refinance with cash out.
Can I release equity on an off-plan property?
Not until it is completed and the title deed is issued. Before that, banks will not lend against it.
How long does it take?
Usually 3 to 5 weeks from a complete application, depending on the valuation and whether an existing mortgage needs to be paid off.
Find out what the banks will offer you
Two minutes of questions, then a broker comes back to you with the banks that fit and what they are likely to lend.