Home Equity Loan in UAE
A home equity loan is a form of secondary mortgage that enables you to borrow money based on the value of your home.
Best Lender for Home Equity Loans in the UAE
We at Sire Finance can help you with your home equity loan because we are mortgage experts. We have experience helping borrowers in all kinds of situations, whether you’re a UAE National, UAE expat, or non-resident. Get in touch with us and sign up to get personalized loan offers and help you find the best way to refinance.
DISCOVER THE SIRE FINANCE ADVANTAGE
Secure Your Financial Future with Our Home Equity Loans in the UAE!
Unlock the value of your property and enjoy financial flexibility in your older years with Sire Finance’s seamless Home Equity Loan processing service. Secure your future with our reliable experience and customized solutions.
Dreaming of Renovations or Investments? Contact Us Now Turn Your Equity into Action!
Ready to submit an application for a home equity loan? Please fill out the form below:
Experience Financial Flexibility – Our Home Equity Loans in the UAE Offer Low Rates and Convenient Terms!
How Our Home Equity Loan Works in the UAE
Homeowners can access the equity locked up in their property through a home release loan. The amount that a homeowner is eligible to borrow would be contingent, in part, on a combined loan-to-value ratio ranging from 80% to 90% of the house’s appraised value. Of course, the borrower’s credit score and payment history determine the loan amount and interest rate.
We created an easy-to-follow process. Our team guarantees a smooth and personalized experience, considering your specific circumstances, from the moment of application until approval and disbursement.
Application Process
Applying for a Home Equity Loan in UAE is now done entirely online, so you can do it from home with just a few clicks.
We will conduct an initial eligibility assessment and discuss your financial goals during an obligation-free consultation. Based on this, our experts will give you various recommendations that are specific to your needs and ask you to prepare documents for submission.
Assessment and Approval
After the initial consultation, your property will be professionally valued by the bank’s designated valuation firm to determine its current market value.
We will then ensure that you receive a personalized equity release loan offer that outlines detailing the loan terms, interest rate, closing costs, and monthly payments in accordance with the property valuation and your eligibility assessment.
We will be in close contact with the bank from the time we apply for the mortgage until the loan is accepted and the money is released.
Customer Support and Assistance
We provide comprehensive assistance to guarantee that you are fully informed about all implications and obligations that relate to a home equity loan.
Your application’s status is also available 24/7. Our team is ready to assist you and make the process as simple as possible.
Who Can Get a Home Equity Loan?
Not everyone is eligible for a home equity loan. Eligibility for a Home Equity Loan is determined by these factors:
- Nationality – Both UAE nationals and expatriates are eligible.
- Age Requirement – between 21 to 65 years old for employed Expats, or up to 70 years old for Self-Employed Expats and UAE Nationals when the loan matures
- Salary Requirements – AED 10,000/month for UAE Nationals, AED 15,000/month for Expatriates
- Positive credit score
- Debt Burden Ratio – Maximum 50% of income dedicated to repayment
Home Equity Rates for UAE Residents
Equity release is an extremely viable option for both UAE nationals and expatriates. This is primarily due to the fact that when markets collapse or recession strikes, investors who purchase properties with cash have access to additional liquidity.
Equity release also makes it possible to upgrade your residence or relocate to a better one. Under current mortgage rules, UAE Nationals can borrow up to 65% of the value of their home, but UAE Residents (Expatriates) can only borrow up to 60%.
Difference Between Home Equity Loans and Home Equity Lines of Credit (HELOCSs)
Home Equity Lines of Credit (HELOCs) and Home Equity Loans are great ways to get cash for many reasons. While these loans can be a beneficial financial tool, it’s critical to understand how they work and the risks they pose.
A Home Equity Loan is typically a lump sum loan with a fixed interest rate that must be paid back over a specified period of time. In contrast, a HELOC is a revolving line of credit with a variable interest rate that can be accessed as required.
A HELOC functions similarly to a credit card, as opposed to a Home Equity Loan that provides a fixed sum of cash. A HELOC lets you borrow money whenever you need it, and you only have to pay interest on the amount you actually use. There are some risks and problems with using a home equity line of credit (HELOC) to support your real estate investments.
Now that you better understand Home Equity Loans and HELOCs in the UAE, you may be interested in applying for one. Our team of professionals at Sire Finance are here to help you achieve financial success.
Turn Your Home Equity into Financial Opportunities
In today’s constantly changing financial world, homeowners are looking for new ways of leveraging the value of their assets to create additional assets. Property owners can access their home’s equity via Home Equity Release, a flexible financial tool that lets them keep property ownership.
When it comes to protecting your finances and planning for the future, this is a lifeline for homeowners who want to reach their long-term goals and stay financially stable.
Your Home, Your Equity, Your Opportunity – Explore Our Home Equity Loans Today!
Your Trusted Financial Allies for Home Equity Loans
We work together with a number of well-known banks to offer equity release choices. These are:
Benefits of our Home Equity Loan in the UAE
With so many benefits, equity release helps you live the life you’ve always wanted. Loan against property offers several advantages, including:
Flexible Repayment Options
Our Home Equity Loan offers you flexible payment options to ensure that your monthly payment remains affordable and feasible.
Use Funds for Various Purposes
The funds are quite helpful for your financial goals or unforeseen expenses, and you can use it for any purpose you require.
Straightforward Application Process
Sire Finance provides exceptional service to new and existing clients seeking the best equity release deals. We are passionate about offering the best home equity loan deals by communicating with you throughout the loan process, including after settlement.
Documents Required for Home Equity Loans
To expedite the application process for a Home Equity Loan, you should have all the necessary documents available prior to submitting your application.
- Title deed
- Building plan
- Registration documents
- Approval documents from relevant authorities
As an expat, you will also need to present:
- A copy of your passport
- A valid residence visa
Employed Applicants:
- A salary certificate
- Your latest pay slips
- Your bank statements for the last six months
Self-employed Applicants:
- A copy of your valid trade license
- A Memorandum of Association
- Your bank statements for the last six months
- A financial audit going back at least two years
Get the Funds You Need with Our Competitive Home Equity Loans in the UAE! Discover Your Options and Take Control of Your Finances – Apply Now!
Tap into Your Home's Equity with Our Fast and Easy Home Equity Loans
Leverage the value of your home equity to acquire a source of funds that can be directed toward a variety of purposes, including paying for educational expenses, debt consolidation, or home improvements.
Why Choose Sire Finance for Your Home Equity Loan in the UAE?
If you need any more help with Home Equity Release loans now that you know more about them, Sire Finance has a team of experts ready to help you figure out what to do next!
Expertise and Experience
Our team of experts has years of experience working with prominent international and UAE banks and is knowledgeable of the local financial market and regulations.
Comprehensive Solutions
We at Sire Finance offer a wide range of flexible mortgage solutions custom-made to fit your financial goals. We facilitate your process and complete it with as much efficiency as possible.
Exceptional Customer Service
From pre-approval to disbursement, we will provide extensive assistance throughout the loan application process.
FAQs about Home Equity Loans in the UAE
What can I use a home equity loan for?
One of the great things about a home equity loan is that you can use the money for many things. This can offer the necessary funds to finance significant home improvement projects or cover the expense of your child’s education.
What happens if I can't repay my home equity loan?
An equity loan is secured by your property, which means that if you do not repay it, you risk losing it.
Are there any fees associated with a home equity loan?
A Home Equity Loan also has additional fees and closing costs, such as appraisal, title insurance, and origination fees.
How does a home equity loan affect my home ownership?
When you apply for a Home Equity Loan, you retain full ownership of your home.
Is equity release tax free in UAE?
The UAE doesn’t require you to report the loan amount for taxes. Once you receive it, you can use the money in your bank account for whatever you like because the equity you release is tax-free. Paying taxes won’t cost you any money. Since tax laws and regulations can change over time, we will give you advice about the most recent asset release in the UAE.