Set a budget for your new home and consider all the associated charges, such as a 2% agency commission fee and a 4% transfer fee payable to the Dubai Land Department.
A minimum deposit of 25% is also required for properties financed with a mortgage. The interest rate is usually at around 3-8%, depending on the type of mortgage you choose.

For properties purchased directly from the developer, you will need to pay the Dubai Land Department for issuing the Title Deed (AED 520), an administration fee (AED 4,200), and 4% of the property value.
For properties financed through a mortgage or home loan, you will need to pay a Mortgage Registration Fee to the DLD (0.25% of the total mortgage value plus AED 290 administration fees). Your property brokers can charge an agency fee of 2%, but this is negotiable.
For apartments and villas, the service fees (for ongoing maintenance and repairs) are charged on a square foot basis and hence will vary depending on your property. The cost to set up utilities like DEWA and EmPower ranges between AED 2,300 for an apartment or AED 4,000 for a villa, depending on the number of metres installed, location and property type.

Security deposit (5-10% of annual rent)
Brokerage fees (usually 5% of annual rent, but some brokers charge a minimum of 5,000 AED per tenancy contract)
Moving/relocation expenses
Deposits for gas, DEWA, Internet and Phone line connections
Housing fees for Dubai Municipality (5% of annual rent)

You will need to obtain a Holiday Home operator license from the Department of Economy and Tourism or hire an agency that specializes in the management of short term rentals.

If you are a non-UAE national or expat, you are required by the UAE Mortgage Cap law to pay a deposit of 25-35% of the property value. This goes up to 50% for off-plan property purchase. If you are buying a second or third property, a minimum down payment of 40% of the property value will be required.

This depends on your property value, interest rate, deposit amount, and repayment period. Typical rates are between 3.49% and 7%.

You can use an online calculator to get an estimated monthly payment before speaking to a mortgage advisor for a more detailed discussion to find out which mortgage product would suit you best.

CAPITAL AND INTEREST REPAYMENTS
This is the most popular type of repayment where the borrower pays the equated monthly instalment (EMI) covering the capital and the interest each month pre-agreed timeframe. The initial years of the loan period will usually have a higher interest rate. It is common for mortgage repayment periods to be up to 25 years or until 65 years of age for salaried expats or until 70 years of age for UAE nationals and self-employed expats – whichever comes sooner.
INTEREST ONLY REPAYMENTS
This is normally used to finance off-plan properties and offered for up to five years. The borrower only pays the interest due on the amount borrowed each month, not the capital. Like repayment mortgages, the borrower can fix the interest over time or select to pay back at a variable rate.

­Life insurance is mandatory for any mortgage in the UAE. In most cases, your bank or lender will require you to purchase their in-house life insurance policy in order to get the mortgage.

Yes, you can. However, you should consider negotiating with your current bank for a rate reduction in the first instance, as they would prefer to keep you as their customer. You can also negotiate with your bank to waive the refinancing fees.

Yes, but different lenders have different terms for early settlement. Make sure you understand how your mortgage is set up and whether the lender settlement fees are reasonable.

Many UAE banks offer over-payments with no additional charge, allowing you to repay more quickly and lower the interest as you go instead of paying it off in one single settlement.