Equity release is a financial product that allows homeowners to access the capital tied up in their homes. As a leading digital mortgage company in the UAE, Holo is here to shed light on the advantages of equity release for Dubai expats.
The most significant benefit of equity release is that it provides access to a lump sum of capital. This money can be used for a variety of purposes such as the financing of another property or refurbishment of the existing property. Lenders perform due diligence and have criteria to guide the purpose funds from an equity release can be utilized for.
Equity release provides financial flexibility. You can release equity from an existing property. This is a useful option if you are looking to raise funds towards the downpayment on a second or subsequent property, for which the down payment amount will be significantly higher than on your first.
With equity release or a loan against property, you will retain full ownership of your home.
The interest on an equity release is likely to be lower than on a personal loan, though it will be slightly higher than current mortgage rates. You will be expected to make monthly repayments on the amount you borrow so make sure you have an understanding of your outgoings and affordability as lenders will consider this.
At Holo, we offer a seamless, instant mortgage application process and are dedicated to finding you the best mortgage deal within minutes. Our team of mortgage experts is ready to guide you through the complexities of mortgage products, helping you understand how they can impact your financial planning.
To facilitate this, we offer an advanced online mortgage calculator in Dubai, allowing you to estimate potential payments based on various mortgage products. Plus, our services are free for the customer.
While equity release can provide substantial benefits, it's crucial to understand that it's a long-term financial commitment that needs careful consideration. It's always advisable to seek professional advice from a reliable mortgage broker like Holo before making a decision.
Equity release could be a great way for expats in Dubai to leverage their property investment to enhance their financial flexibility. Begin your journey with Holo today and discover the benefits of equity release for yourself.