Dubai's Palm Jumeirah stands as an icon for the city's hotel and tourism industry. As a leading mortgage broker in Dubai, Holo is committed to guiding you through the intricacies of commercial mortgage, particularly if you're considering financing a hotel on the Palm or elsewhere in the city.

It's essential to understand that commercial mortgage loans differ significantly from residential ones. When seeking to finance the purchase of a hotel, you'll need a commercial mortgage. You'll have the option to apply for either a conventional commercial mortgage or an Islamic mortgage loan in Dubai.

Similar to any mortgage process, the bank will assess both the property's value and the credit history of both the individual applicant and the business. Seeking guidance from commercial mortgage specialists is highly recommended, as they can offer valuable insights into the process, associated costs, regulations, and lending criteria.

During the application process for a commercial loan for a hotel, banks consider various factors, including the location, financial performance of the business, inventory, the borrower's experience and business plan, as well as the overall economic climate.

Commercial banks typically provide a loan-to-value ratio (LTV) of up to 70% for commercial property loans. This means that the loan amount can be up to 70% of the combined value of the unit, along with any inventory, equipment, or machinery. However, specific circumstances and bank policies vary, and the exact borrowing amount and terms are determined on a case-by-case basis.

A commercial mortgage advisor can address all your inquiries and provide guidance on optimising your mortgage application to appeal to commercial lenders. If you're considering a commercial building mortgage in Dubai, let us assist you! With our extensive experience and trusted reputation in the mortgage industry, Holo is well-equipped to guide you through our commercial mortgage services in Dubai.

Explore more about our services and commercial mortgage products, and let's progress your mortgage application together.