Non-residents can get a mortgage on Dubai off-plan property, but banks typically lend only up to about 50% of the value, and many lend only close to or at handover. Once the property is ready, non-resident limits typically rise to around 60%, while UAE residents can often borrow 75% to 80%.
Because of this, most overseas buyers pay the construction instalments in cash and use a mortgage for the amount due at handover. This guide explains the typical limits, when banks lend, what documents you need, and how to check that the numbers work for your payment plan.
Typical loan-to-value limits
Loan-to-value, or LTV, is the share of the property value a bank will lend. The figures below are typical. Every bank sets its own policy, and limits can change with your income, nationality, the developer and the project.
| Buyer and property | Typical maximum LTV |
|---|---|
| Non-resident, off-plan | Up to about 50% |
| Non-resident, ready property | Around 60% |
| UAE resident, ready property | Up to 75% to 80% |
The bank lends against its own valuation, not the price you agreed. If the valuation comes in lower than your price, the loan is based on the lower figure. You then need to cover the gap in cash.
When banks lend on off-plan
Banks are careful with off-plan. Many only lend on projects from developers they have approved. Some only lend once construction is well advanced. Others only lend at handover, when the property can be valued as a finished unit.
For you, this means timing matters as much as the LTV. Ask the bank three questions early:
- Is this developer and project on your approved list?
- At what stage of construction will you lend?
- What LTV will apply to me at that stage?
Get a pre-approval before you commit to a payment plan that relies on a mortgage. A pre-approval is not a final offer, but it shows you what the bank is likely to lend. Apply for the full mortgage a few months before the expected handover date so the funds are ready.
Documents banks usually ask for
Each bank has its own list. For non-residents, banks typically ask for:
- Passport copy
- Proof of address in your home country
- Bank statements, often for six months
- Proof of income, such as salary slips, an employer letter or company accounts
- Credit report from your home country, where available
- The SPA and the payment receipts for the property
Self-employed buyers are often asked for more, such as audited accounts and company documents. A mortgage broker can help match you with banks that suit your profile.
Payment plan vs mortgage: the handover maths
Take an AED 2,000,000 apartment on a 60/40 plan. You pay 60%, or AED 1,200,000, in cash during construction. At handover, AED 800,000 is due.
If you take a mortgage for that AED 800,000, the loan is 40% of the value. That is well within the typical 60% limit for non-residents on ready property. Mortgage registration would be 0.25% of AED 800,000, or AED 2,000, plus about AED 290.
Now take the same unit on a 40/60 plan. You pay AED 800,000 during construction and owe AED 1,200,000 at handover. That is a 60% loan, right at the typical limit. If the bank values the unit at AED 1,900,000, 60% is only AED 1,140,000. You would need to find the other AED 60,000 in cash, plus fees.
- Work out what is due at handover.
- Divide it by a cautious valuation to find the LTV you need.
- Compare it with the typical limit for your profile, and keep a cash buffer.
A post-handover payment plan is another option, as it lowers the amount due at the keys. Compare plans across Dubai off-plan projects, or talk to Dani about a plan that fits your finance.
Frequently asked questions
Can I get a mortgage before the building is finished?
Sometimes. Some banks lend on approved off-plan projects, typically up to about 50% for non-residents, but many only lend near or at handover.
Is the mortgage based on my price or the valuation?
On the bank's valuation. If it is lower than your price, the loan is based on the lower figure.
When should I apply?
Get a pre-approval early, then apply for the full mortgage a few months before the expected handover date.
Fees and rules change; confirm current figures with the Dubai Land Department, GDRFA or your bank before you commit.
This article is general information about the Dubai property market, not financial advice. Prices and regulations change; ask for up-to-date details before you buy.
