Mashreq's Commercial Mortgage Loans offers you the flexibility of choosing completed properties such as shops, office spaces,warehouses and other business units
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Benefits
High loan amounts
Enjoy loans of up to AED 10 million to complement your business growth.
Longer tenure periods
Conveniently tenure periods of up to 15 years are an attractive proposition.
Low interest rates
Our interest rates are competitive and beneficial to commercial customers.
A mortgage loan which is used to purchase/refinance a commercial property / a non- residential property such as shops, office space, warehouses or a retail space.
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You can borrow up to a maximum of AED 10 million for up to a maximum of 15 years.
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For Salaried Customers: Minimum: 21 years/ Maximum: 65 years on maturity of loanFor Self-employed Customers: Minimum: 21years/ Maximum: 70 years on maturity of loan
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Your application will be evaluated using the following criteria:
Your income stream
Your employment history and stability
Your ability to handle current obligations as well as new ones
The value of the property being purchased or refinanced
Your assets to assess your ability to meet your down payment
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Refinance allows you to liquidate the cash value of property. This is available to all residents, expatriates and UAE Nationals.
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Yes, at Mashreq we deal with two types of transactions:Full Payment: Where the first purchaser has made a 100% payment to the developer and is selling the property to you. Here the payments would be made to the first purchaser.
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A pre-approval would help you determine your eligibility for a Mortgage Loan before you decided to finalize a property.
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Yes, both Life Insurance and Property Insurance are mandatory before disbursing the loan. Property Insurance:The Property Insurance premium is calculated on the cost of the property and is available only through Oman Insurance Company OIC(FOR T&C's click here). The amount of the insurance premium will be debited from your account prior to the final disbursal and each year thereafter. A property insurance certificate will be delivered to you by the insurance company within a month. Life Insurance:Life insurance is also mandatory from OIC (FOR T&C's click here). Customers with existing life insurance policies through Oman insurance Company, Zurich and Alico have the option to assign* the policy to the bank provided that it meets the following criteria:
Policy is more than six months
Policy covers the loan value
Policy covers the tenure of the loan including the construction period
Policy is active and insurance premium is paid up to date
Please Note:- An Assignment Fee will be applicable and a policy can only be assigned at loan origination;- Existing life insurance policies can only be assigned at loan origination.
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Please refer to our webpage for service of charges applicable for home loan. https://www.mashreq.com/uae/en/neo/service-charges *All fees are subject to the sole discretion of Mashreq & may change from time to time.
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Application form
Passport copy with valid visa
Last six months bank statements personal and company
Liability letter from the bank addressed to Mashreq
Memorandum and articles of association
Audited financial statements of last 2 years
Board resolution copy
Trade license copy
Copy of Chamber of Commerce Registration
Business profile on company letterhead
Photocopy of Purchase Contract
Photocopy of Down Payments
Please Note that all information provided here is subject to change. All loans are granted at the sole discretion of the bank.
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