Buying your first home in the UAE

Becoming a proud homeowner should not be hard – we’re here to help

Preparing to invest in your home

The decision to buy a home of your own can be intimidating. If you’re a first-time buyer in the UAE, you’ll find endless choices and a whole array of finance and bank loan options.

Read through the points below and give them some careful thought before you take this very important step. We’re here to help with your home loan when you’re ready. Emirates NBD home loans are fast and hassle-free so you can have the keys to your very own home in your hands within days.

A few things you should consider before you decide on your home:

Does it fit your needs? There are many different kinds of properties in the UAE. Check if the community fits your needs. Does it have a school, hospital, green areas, security and connectivity to the metro and road transport? Everything that’s important to you.

Flats vs villas: Flats can be easier to manage, especially if you’re a frequent traveller. You’ll find some very good choices with great community facilities including gyms and pools. Villas can be way more expensive not just to buy, but also to maintain. Utility costs can be high too. Consider the pros and cons well.

Fees and charges: Community fees can be quite high in some developments – be it a flat or villa. Find out what the fees entitles you - chiller charges, gyms, community halls, parking spaces?

Off-plan or ready-to-move-into? Buying off-plan involves a waiting period before you can move in, but then you pay much less and may even get an easy payment plan, avoiding the need for a home loan. With the latter, you can move into your home immediately and start saving on rent right away.

Real estate agent: Finding yourself a trustworthy real estate agent is always a good idea. They can present you with the best options and do most of the leg and paper work for you.

Your home loan: Lastly, but most importantly, consider your mortgage. What’s the best rate you can get? How much should you put as down payment? How long should you take the loan for? All good questions to which you should have the answers before taking this very important decision.

Get in touch with us now for advice >

Why you should buy your home with Emirates NBD

We have a team of mortgage experts to help finance the home of your dreams. You will be assigned an expert who will take you through the process quickly and smoothly, weather you’re buying a home to live in, to rent out or even just a holiday home to enjoy with family and friends.

Here are some more reasons why you should choose Emirates NBD home loans:

High loan amounts up to AED 15million

Depending on your salary and income, we offer some of the highest amounts as home loans.

Low down payment

Borrow up to 85% of your property's value.

Dedicated relationship manager

As an Emirates NBD Priority or Private Banking customer, you'll have your own relationship manager who'll guide you every step of the way.

Instant pre-approval

Apply online and get approved in principle immediately, then let our experts handle the rest.

On-on-one advice

Our specialised mortgage experts will not just guide you through the process, they will be available at any time to answer all your questions so you feel confident with your decision.

How much would you like to borrow?

HOME LOAN CALCULATOR

Read Emirates NBD home loan terms and conditions and our home loan fees and charges.

FAQs

What can I do if I miss a loan instalment or EMI?

If you miss/default a loan instalment (EMI) payment please contact us and we’ll do our best to help.

Some banks promise faster processing while others talk of lower interest rates. Which one should I opt for?

A low EMI could actually lead to a longer payment period and could prove more expensive as you will pay more interest. Moreover, fast processing may force you to take a hasty decision without complete information, so be careful and ask all the questions you need to before you sign up.

How big should my down payment be?

A higher down payment on your home means lower total payments on your home loan. It gives you the flexibility of either reducing the term of the loan or having smaller monthly installments. Loan-to-value (LTV) is a financial term that expresses the ratio of a loan against the value of the home. While it's tempting to apply for the highest LTV, it is advisable to pay a higher down payment and opt for a lower LTV. Lower monthly installments will keep the loan manageable and give you more disposable income at all times.

Can I apply for early settlement of my home loan?

Yes, you can. You can close your loan at any time during the loan term. To know more, please visit any Emirates NBD branch or call us on +91 600 54 0000. To know more about early settlement of our loan, read this article.

Can I do a partial payment towards my home loan? Will there be any charges for this?

Yes, you can partially settle your home loan if you have extra cash in hand. There is a charge for this, but you will save on interest payments. You can choose to either reduce the term of your loan or reduce the EMI amounts when you pay part of your loan back. Read more about partial settlement of home loans in this article.

What is the difference between a clearance letter and a no-liability letter?

The bank will issue you a clearance letter when a specific liability, such as a personal or car loan, has been cleared by you while a no-liability letter will be issued only if you have no existing liabilities with the bank.

What is a post-dated cheque (PDC)?

A post-dated cheque is a cheque with a future date that can be used to collect a payment you owe after the date mentioned. This can be issued to a bank, business or person (known as the payee). You can use post-dated cheques when you don't want the payee to collect payment before a particular date.

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