Dubai loan refinancing

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Do you have a real estate property in Dubai
and you need money or to cash it out?

Get in Romania a loan from Dubai through Bright Finance!

The local banks offer mortgage loans to nonresidents up to 60% of the property evaluation value (LTV 60%). As a rule, it is advisable that the loan to finance the acquisition of other real estate property!

Eligibility conditions:

  • The property has to be finalized at least 90% and hand over it to the client; the client has already the title deed;
  • The applicants have to be just private individuals.

What criteria do you need to meet to qualify for a refinance?

  • Local banks require a minimum of information about income earned in Romania, but it is not necessary to earn income in Dubai;
  • You do not need a visa or temporary residence permit in Dubai.

The documents you need if you apply for a refinancing loan::

  • Personal identification document (passport and identity card);
  • The title deed ;
  • Documents which state the income in Romania.

Documents are sent in English. A certified translation is not required, but the documents must be translated by a certified translator.

We detail below some useful information if you want a refinancing loan:

  • Who is the loan applicant? Any private individuals, resident or non-resident in Dubai
  • What is the maximum loan amount? 15.000.000 AED.
  • What is the minimum loan amount? 1.000.000 AED.
  • Which is the loan tenor? Up to 25 years, of course depending on the age of the applicant.
  • The interests are just for orientation only and can be modified; usually the interest is variable and link to EIBOR index evolution.
  • How much is the interest rate applicable to non-residents? On August 2023 the interest was aprox 6.5% (the 1-month EIBOR being aprox 5.6%).
  • Is it mandatory to close a house insurance policy? Yes, this is mandatory; the value of this insurance is approx. 0.005% monthly based applicable at the evaluation value of the property and it can be paid monthly together with the loan.
  • Is it mandatory to close a life insurance policy? Yes, but not to all banks; some banks request the closing of this type of insurance; the cost is approx.  0.018% monthly based applicable to the loan amount and it can be paid monthly with the credit.
  • How much is the early repayment fee?? Aprox 1%.
  • Which is the link between EIBOR and LIBOR USD? There is an important correlation between these two rates.
  • How much is the mortgage tax? 0.25% applicable to the property value.
  • How much are the property evaluation taxes? Aprox 3000 AED.
  • Do I have to pay a processing file tax? The local banks request a processing fee between 0 and 1%.
  • Is it mandatory to have a banking account in Dubai? Some banks request a minimum turnover for three months before application date, but this is not a general condition for all banks.
  • How much are the mortgage release tax? Aprox 1.300 AED.
  • Are there unmentioned taxes? Yes, but depends on the bank politic.
  • What is the Bright Finance fee? Bright Finance take a 2% success fee of the loan value, payable at credit contract signing date.
  • How can I apply? Give us a phone call at 0040/737.023.198 or send us an email at cristina.calin@brightfinance.ro.

Disclaimer: All information mentioned above are orientated and can be modified based on the bank’s politic

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Whatever type of loan you need, Bright Finance’s team of specialists will help you achieve maximum benefits with minimum obligations and guide you step-by-step to achieving your goals quickly.


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