How Long Does the Mortgage Application Process Take in Dubai

Holo Blog

Blog Author Profile Image

Holo Team


Applying for a mortgage can be a daunting process. It can be complicated and time-consuming, but we want to make it as straightforward as possible. One of the most common questions we get is how long does the mortgage application process in Dubai take?

Here we aim to break down the process and give you indicative timelines for each stage. We'll also tell you what you can do to keep things moving along smoothly.

Step 1) Use a mortgage calculator

Using a mortgage calculator in Dubai is the quickest way to find out how much you could borrow. This will also save you time researching the best interest rates on a Dubai mortgage that are available in the market. Our online mortgage calculator will assess your affordability and search over 500 mortgage products from across the UAE. You'll find out how much you could borrow, at what rate, over how long, and who from.

Time taken? Two minutes

Step 2) Discuss your options with a mortgage advisor

Having a conversation with a mortgage broker in Dubai should give you all the information you need to make a decision about the mortgage right for you. When you use the Holo Mortgage Calculator, one of our mortgage experts will give you a call. They'll walk you through the selection our calculator provided, the mortgage interest rate options, and answer any questions about the next steps. Our service is 100% free so there will be no hidden costs.

Time taken? 45 minutes

Step 3) Dot your i's and cross your t's

If you're ready to proceed, it's time to finalise your application for a mortgage. At this point, you'll need to submit personal documents with your Dubai mortgage application. You'll need different documents depending on whether you are salaried or self-employed and whether you are applying as a resident or non-resident.

If you are salaried you'll need to provide:

  • A copy of your passport, Emirates ID and Visa
  • Six months bank statements
  • Six months payslips
  • Salary certificate

If you are self-employed you'll need to provide:

  • A copy of your passport, Emirates ID and Visa
  • Six months bank statements
  • Trade license
  • Audited financials for two years
  • 12 months business account statements

If you are applying for a mortgage as a non-resident other documents from your country of residence may be required. Whether you are applying as a resident or non-resident, your Holo Mortgage Advisor will make sure you know what documentation is needed. All your documents can be easily uploaded to our online portal.

Once you've submitted your documents, and everything is present and correct, we'll submit the application for pre-approval from the bank. They will complete an affordability check and whether you are eligible for a mortgage.

Time taken? 5-10 working days after submission

Step 4) Find the one

Once your pre-approval has been issued, you can start your property search. You can start looking at properties any time you like, but having the pre-approval means sellers and real estate agents know you're a serious buyer. Once you've found the one, made an offer and had it accepted, you'll proceed to the next stage.

Step 5) Valuation

Now it's time to value the property. Holo will arrange this for you with the bank.

Time taken? 2-3 working days

Step 6) Signing the Final Offer Letter (FOL)

Once the valuation report is ready, the Holo team liaises with the bank and will arrange the signing of your FOL. This is the binding document between you and the bank for the duration of your mortgage.

Step 7) Seller's settlement

If your seller has a mortgage of their own, Holo will arrange the settlement and clearance of their mortgage with their agent.

Time taken? About ten working days

Step 8) Clearance and No Objection Certificates (NOC)

Once the seller's clearance documents are ready, your seller's agent will arrange the NOC from the property developer.

Time taken? This one is in the hands of the developer. It can typically take anywhere between two and ten working days.

Step 9) Transfer

This is the final step before you move. It's the point at which the transfer of ownership of your property will be scheduled with the Trustee's Office after which, the mortgage will be paid out to your seller.

Time taken? Approximately two working days

Step 10) Collect your keys

Time to pack up your bags and arrange the movers. At this point, the property is yours.

A good mortgage broker in Dubai will give you all of this information and make sure you are informed at every stage of the journey.

We know that there can be a lot of paperwork and a lot of parties involved in the purchase of your new property. We do all the heavy lifting and liaising on your behalf, for free.

Ready to get going with your application for a mortgage? Start with the Holo Mortgage Calculator

This blog is for educational purposes, but everyone's case is unique, and local guidelines and regulations may change. Our mortgage advisors can help you with any question you may have and have the latest advice. Get in touch.