Mashreq Commercial Mortgage Loans
The commercial mortgage loans offered by Mashreq Bank provide customers with an option to choose a constructed property like retail space, office space or shops from the Dubai re-sale market thanks to its impressive network.
Mashreq Bank is one of the leading financial institutions in the UAE, having climbed its way up the ladder since its incorporation in 1967. It caters to the financial needs of an extensive range of customers, and the quality of the products and services designed by the bank have been duly acknowledged over the years in the form of awards at prestigious ceremonies. Headquartered in Dubai, the bank has twelve international offices across Africa, Asia, Europe and the United States.
Why choose Mashreq Bank for Commercial Mortgage Loans?
Mashreq Bank is among the most trusted financial institutions in the UAE, and its operations are in compliance with the Sharia'ah law. The rates offered by the bank are the best in the market, and the service provided to customers is second to none. A number of features and benefits, which will be discussed below, can help you better understand the convenience of doing business with Mashreq Bank.
Key features of Mashreq Bank Commercial Mortgage Loans
- The limit for a loan is AED 10 million.
- The tenor of the loan is 10 years.
- Interesting options for choosing interest rate.
- Loans can be availed by resident expatriates and UAE nations (both self-employed and salaried).
- Speedy processing and easy documentation.
- Large network of approved properties from which to select.
Benefits of Mashreq Bank Commercial Mortgage Loans
- High loan amounts.
- Attractive interest rate options.
- Relatively long tenor.
- Easy accessibility.
- Salaried persons as well as self-employed persons can apply.
- Buyout, refinance and equity options available.
- Committed managers and professionals who offer doorstep service.
- Guarantee of transparency.
Eligibility Criteria for a Commercial Mortgage in the UAE
- Self-employed persons and salaried persons may apply.
- Resident expatriates and UAE citizens.
- Salaried persons must earn AED 50,000 at least per month.
- Self-employed persons must earn at least AED 40,000 per month.
Documentation Required for Salaried Individuals
- Application form
- Copy of visa and passport.
- Salary certificate.
- Title deed or relevant property documents.
- Bank statement of the past six months.
Documentation Required for Self-Employed Individuals
- Application form.
- A copy of visa and valid passport.
- Chamber of Commerce Registration copy.
- A trade license.
- Articles and Memorandum of Association.
- Audited financial statements from the previous two years.
- Personal and company bank statements for the past six months.
- Title deed or relevant property documents.
Other financial products offered by the Mashreq Bank in the UAE are:
Frequently Asked Questions - FAQs
- Is there an age requirement to apply for Mashreq Bank commercial mortgage loans?
- How does my loan get processed?
- How many days does it take for a loan to get sanctioned?
Yes, salaried customers have to be at least 21 years of age and not more than 65 when the loan matures. Self-employed individuals must be at least 21 years old and not older than 70 years when the loan matures.
You may either visit one of the bank’s branches to avail a commercial mortgage loan, or you can request the bank’s relationship officer to come over to your office or home at a time convenient to you and complete the formalities.
It usually takes a maximum of seven days after you have submitted all the required documents.
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