Non-UAE Resident mortgage can be availed for purchasing an apartment, row house or luxury residential properties in UAE. To avail the non-resident mortgage, applicant needs to hold a strong financial status, must be able to provide proof of regular income overseas and should be ready for a higher down-payment.
Most banks define the age criteria for mortgage available for Non-UAE residents. The age of the applicant should be between 21 and 60 years or retirement age (whichever is earlier) at the time of loan maturity.
Just as in the case of mortgages for residents, banks also put minimum criteria on income of individuals with non-residents status applying for loan. Income varies as per the individual bank's policy.
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