Dubai is now one of the most sought after locations in the world. In fact, expatriates and foreign investors are now considering this emirate as a major business center in the UAE. Although buying a character in this emirate is not that simple especially if you don’t have the money to obtain a character of your choice. That’s why it’s basic for you to take out a mortgage, but you need to get the best mortgage product based on your current circumstance.
People who are thinking about buying a character using mortgages are now seeking the help of mortgage brokers, since they can provide more options than edges. According to a recent study conducted by the Central Bank of Dubai it was revealed that mortgage brokers have increased their market proportion across the board on 2013. This is a clear indication that clients are finding the solutions provided by brokers more advantageous than those offered in edges.
Usually, brokers have access to over 300 mortgage products in Dubai, but they can also offer high quality similarities that are not typically sold on the character market. Furthermore, brokers can provide several specialized sets like:
- They will prepare all the needed documents and communicate the terms between the mortgage provider and the borrower to ensure a smooth course of action
- Borrowers can also save a lot of time and money, since they will guided by their broker until they secured the mortgage loan
- Most importantly, brokers will provide an objective assessment of their client’s financial situation and will only offer loans that are appropriate to the borrower’s financial capacity
These are the main factors why borrowers are now choosing brokers in securing the most popular loan obtainable to them. That’s why already high value mortgage clients are now relying on brokers to find the right deal on the character market. Typically, these professionals are certified by RERA, a government body that has complete authority and responsibility to control the real estate sector in Dubai.
A specialized mortgage broker in Dubai know the laws and regulations pertaining to real estate financing in the UAE. These laws are designed to protect the rights of the consumers. Brokers will to pay attention to these laws since they are regulated by the government. There are regularly new regulations and new products hitting the market all the time. Licensed Mortgage Brokers will be updated by RERA to these changes, so they can provide the most ideal service to their clients.
However, it is advisable to check the track record of a particular broker before you decide to hire them. Always remember, using a credible mortgage broker will permit you to find the right deal from the right lender.