HSBC Bank Mortgage Loan

Looking to transfer your balance or buy your first property in the UAE? Whatever your situation, we've got a choice of competitive mortgages.

Plus, if you're buying a sustainable property you could qualify for our Green Home Loan discount on your rate.

Major Advantage: Lower interest rate

Reducing Balance Rate  

Interest Rates & Charges: 

Reducing Rate (as advertised): Starting from 5.25% p.a.

Processing Fees: 0.525% finance amount (Nil for Buyout)

Property Valuation Fees: AED 2,625

Early Settlement Fees: 1% of outstanding amount or AED 10,000 (whichever is lower) 

Partial Settlement Fees: 25% per year of capital balance without penalty

Financial Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 months for salaried & 2 years for self-employed

Salary Transfer: Not compulsory

Minimum Down payment:

• For first property (If property price < AED 5M): 20%
• For first property (If property price > AED 5M): 30%
• For second property: 40%

Key Details:

Islamic Finance: No

Maximum Term: 25 years

Finance  available for: Ready properties in Dubai & Abu Dhabi

Insurance (Compulsory):

Life Insurance: Independent life insurance through Zurich only arranged by the bank

Property Insurance: 0.035% p.a.

Common Documents:

• Valid Passport, Resident Visa and Emirates ID Copy.
• Offer letter copies of all personal ongoing finance.
• Rental income document (If any).                      
• Property documents (If property is finalized or equity release).
• Liability letter (In case of Buyout finance only).
• Relevant property documents.
• Address Proof

Salaried Client Documents:

• Latest salary certificate addressed to RAK BANK.
• Latest 6 months personal bank statement.
• Six months pay slips if there is variance in salary.

Self-Employed Client Documents:

• Valid trade company license.
• MOA (Memorandum of Association) including all amendments.
• Latest 6 months personal bank statement.
• Latest 6 months company bank statement.
• Audit financials of last 2 years.
• Offer letter copies of all company ongoing finance (for self-employed).

• All info mentioned can change at any point in time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
• Terms and conditions apply.  
• In line with the UAE’s VAT implementation from 1st January 2018, VAT at the rate of 5% will be levied on HSBC fees and charges specified herein, wherever applicable in line with UAE law.