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Buying a property with finance in Dubai is easier than you think! We asked Graham Brown, mortgage consultant at our preferred mortgage partner, MENA Mortgage Services to give us the low down on all things mortgages in Dubai.

1. Tell us about MENA mortgages and the benefits to using a mortgage advisor instead of just using your bank?

MENA Mortgage Services, are an independent mortgage broker service. Our role is to fully understand a client’s circumstances and profile and then recommend the most suitable finance option. We also have access to exclusive mortgage products which could have lower rates of interest for processing fees or better overall general terms and conditions than if the client approaches the bank themselves. Once the client has chosen their preferred bank we will then manage the process right up until the client takes ownership of the property.

2. What do I need to get a mortgage in Dubai?

A lot will depend on a client’s circumstances but typically as an employee you will need 6 months of salary history and as a business owner your company must have been operating for at least 2 years.

3. How much do I need to put down as a deposit?

Expats: For their first mortgage a minimum of 25% deposit is required up to a property value of AED 5 million, above AED 5m this increases to 35%.

For any subsequent mortgages then the minimum deposit is 40%.

Emirati Citizens: The minimum deposit is 20% up to a property value of AED 5m, increasing to 30% above AED 5 million.

Again its 40% for any subsequent mortgages.

4. What type of mortgages are available?

There are 3 distinct types of mortgages available in the UAE:

– Variable rate which will change depending on what happens to interest rate
– Fixed rate where you payment are fixed for specified period of time
– Hybrid mortgage products available which are a mixture of a fixed and variable rate

What is best will depend on the client’s circumstances and requirements.

5. Please can you give us a step by step of the mortgage process?

Every case can be different but there is a set structure that all the bank will follow.

– First the client will apply for a ‘pre-approval’ this is where we submit a set of documents to the chosen bank so they can provisionally approve the mortgage
– Client finds a property and signs the sales contract
– The bank will then instruct an independent surveyor to visit the property and produce a valuation report
– Providing everything is satisfactory with the valuation report the bank will then issue a final written offer which is the formal contract between the bank and the client

If you are interested in applying for a mortgage or would like accurate and unbiased advice, contact Graham Brown on +971 (0) 569418380 or email info@hmshomes.com

We are delighted to announce that one of our Sales Manager, Tom Moon, has been awarded Property Finder’s Outstanding Agent of the Month for November 2018.

Tom is not only one of our sales manager at HMS homes but is a true specialist of the Palm Jumeirah in every sense of the word. With over 7 years’ experience as an agent in Dubai, Tom has developed an unparalleled knowledge of his specialist area, the Palm Jumeirah, as well as of the real estate market in Dubai. He knows his product inside out and, as a result, has built and established excellent relationships with buyers, sellers, landlords and tenants alike – enjoying referrals and repeat business time after time.

He more than deserves to be recognised as Property Finder’s Outstanding Agent of the Month for the experience, integrity, class and skill he brings to Dubai’s property market as well as the huge transactions he has brokered and will continue to.

Hear from the man himself in this interview with Property Finder upon receiving this award.

How long have you been in the industry?
I have been working in the industry for 7 years, before that I was working in private wealth management in China.

Which areas do you specialise in?
I am a Palm Jumeirah specialist, mainly the villas.

Why did you decide to become a real estate agent?
I have always been interested in property and been fascinated by the Palm since I first came to Dubai.

How would you describe the current property market?
I think it’s a fantastic time to buy, when you compare prices per square feet to other major cities, there are some real bargains to be had in Dubai right now, especially at the higher end of the market.

Tell me about your big achievement? Last month’s big sale/s
I sold a 23 AED Million penthouse in The One in Palm Jumeirah.

Any words of advice for someone looking to sell their property in Dubai?
Pick an agent whom you like and trust, spend time on this part as this agent may make or save you a lot of money. Once you have chosen an agent, then listen to their advice on realistically what you will expect to achieve for your property. I see so many sellers think they know the market better than their agent and list their property higher than the market price and their property sits there for months generating no interest.

What’s your best-negotiating tip?
Be straight and be honest, even if it is bad news, and don’t overpromise on things that you can’t deliver and aren’t going to happen. I see so many agents mess deals up this way.

What’s your favourite thing to do on your days off?
I spend time with my wife and my two children outdoors somewhere and make most of the great weather we have in Dubai!

If you had 2 million dirhams to invest in real estate, where would you put your money?
I would invest in The Palm Jumeirah, my favourite location. If not there, then an established community. I would by something that is under market value but needs renovating and spend some money on upgrading it to make it unique within the community.

What is the question you are most often asked by property seekers?
They often ask: how is the market doing?

How big of a role does Property Finder play in your job? What specifically do you use Property Finder for?
A big role, I use it every day as it provides me with leads on the properties I have listed.

We’ve compiled a list of the ultimate Dubai bucket list! With so many iconic things to do in the emirate, how many have you ticked off your list?

At The Top, the Burj Khalifa

Can you really visit Dubai without taking in the world’s tallest building? On a clear day you can see this icon from almost anywhere in Dubai! Impressive from both the inside and outside, this is a view you don’t want to miss.

When to go: 4 or 5pm to take in the sunset then go and watch…..

The Dubai Fountains

With an ever-changing soundtrack and the breathtaking backdrop that is the Burj Khalifa, we think our dancing fountains more than rival Las Vegas’ famous Bellagio Fountains. With performances every half an hour, it is worth booking a table at a restaurant in Souk Al Bahar or outside at Dubai Mall to truly get the Dubai Fountains experience.

When to go: Thursday, Friday or Saturday night between 8 and 10pm – it will be busy but it is worth it for the atmosphere

Take a boat trip!

Whether you are looking for a party out at sea or a more relaxed tour of the coastline, you can’t come to Dubai without hitting the water! We suggest starting your journey from the marina, coasting round the Palm Jumeirah past Atlantis before finally getting that iconic pic in front of the Burj Al Arab.

When to go: Any day of the week, start around 3-4pm and book a boat for a few hours making sure to take in sunset! Xclusive yachts provide a variety of yacht options perfect for any size of party, prices are reasonable and include soft drinks and bar service.

Brunch

The famous Dubai brunch is somewhat of an institution here, be it a relaxed family brunch or the wildest party going, there’s something for everyone. There are literally hundreds of options to choose from for any budget or demographic!

When / where to go: Friday is the most popular day for brunch but, for something more relaxed, there are many great Saturday brunches also. For the ultimate brunch experience in a beautiful setting, we suggest Al Qasr or Mina A Salam!

Go Sky Diving!

If it’s good enough for Will Smith and Sheikh Hamden, it’s good enough for us! Whether you are a thrill seeker or just doing it for the ‘gram, there aren’t many locations globally which offer such an iconic shot as you throw yourself out of a plane at 13,000 ft over the Palm Jumeirah.

Where to go: Skydive Dubai offer tandem Skydives daily all year round starting from as early as 6am however winter offers the best conditions for jumping

Helicopter ride

While it’s not the most economical way to get round, it is without a doubt the best way! Choose a 45-60 minute ride to get the best experience which will take you from the Palm Jumeirah, past the Burj Khalifa and the Creek and then down to the marina.

When / where to go: Fly High Dubai Heli tours do daily flights over Dubai departing from Atlantis The Palm. The best time to go is between October and December when the humidity is low and the conditions are less windy

Visit Old Dubai

Before the skyscrapers and super cars, Dubai was a centre for fishing and pearling. ‘Old Dubai’ still retains much of its original character in the many souks in Deira where you can find textiles, spices, perfume and gold at rock bottom prices. Be prepared to haggle and barter with the charismatic tradesmen – it’s all part of the fun!

When / where to go: Any day! We recommend going across to Deira and getting an abra across the creek – remember to take some small change as this is one place in Dubai that does not accept credit card!

Dubai Mall

The world’s largest and, arguably, the most impressive mall – a trip to Dubai is incomplete without a visit to Dubai Mall which houses over 1,300 shops, restaurants and entertainment outlets. Home to an aquarium, an Olympic size ice rink and a virtual reality park – there’s always something interesting to see at Dubai Mall whether it’s an art installation suspended from the ceiling or the human waterfall Make sure your phone is charged and get ready for your Instastory to be a Dubai Mall takeover!

When to go: While we enjoy the hustle and bustle of a weekend, the mall can become somewhat overwhelming at peak times so to avoid the crowds we’d suggest visiting on a week day or a weekend morning

Go on a desert safari

Get those perfect sunset desert pics by taking a desert safari where you will enjoy countless activities such as dune bashing, camel riding and falconry displays before enjoying traditional Middle Eastern food and entertainment.

When to go: Any time of year – there are many desert options from budget to luxury!

Sunrise cycle at Al Qudra Cycle Track

Set your alarm because this one is for the early risers! Suitable for riders of all abilities, the track is 86 kilometres and boasts stunning views of the desert. You can rent a bicycle close to the track but make sure you pre-book to ensure bike availability.

When to go: Any time of year but the autumn / winter months will be less of challenge with the heat. Get there before sunrise so you can enjoy the sun rising as you ride!

This week, we are celebrating our fourth year in business and with almost precision timing – we have just achieved a record month.

More than 4 years ago, a light hearted conversation between friends soon turned in to a serious business plan and then HMS homes was born.

From our beginnings on the 30th floor of iRise Tower in an 800 sq ft office, we soon outgrew our first office as the company expanded and moved to our 3000 sq ft office on the 19th floor of iRise Tower.

We have enjoyed much success over our 4 years in business and will continue to grow our brand with each milestone. With everything we have learned along the way it only makes us even more excited about the next four years.

Last month, we achieved our largest residential deal in the company’s history, leading to a new company record being set for highest grossing month! And this month we have already achieved our second largest single deal. HMS homes will continue to achieve this kind of success due to customer care, customer journey, product knowledge and team work.

Thank you to our clients, employees, followers, families and friends for all of your support over the years – we look forward to continuing to share our journey with you.

Whether you are selling or renting your property, making some changes can really make all the difference to ensure a quick sale or tenancy. Has your property been on the market for a long time? Then a few simple changes could be all it takes. Read our helpful hints and tips below for best preparing your property.

When a prospective tenant or buyer comes to view your property, they will naturally want to envisage themselves living there. Decluttering and depersonalizing gives the space a blank canvas and allows the buyer or tenant to see the excellent living space you are offering them.

Some buyers and tenants find it difficult to visualise and see past the clutter which in essence is off putting as all they see is a hectic household!  They are not just buying in to your property, they are buying in to a lifestyle and as such you want to show them the attractive side of what living there is like! So, give them the feel of why you moved in or bought the property originally.

Consider putting bulky furniture items and excess clutter in to storage and giving your living areas some welcome breathing space.

Giving your home a fresh coat of paint in a neutral colour will modernise your home and make spaces appear lighter and bigger. Neutralising will also create a ‘ready to move in’ aesthetic which will aid your buyers or tenants when imagining themselves and their possessions in there. It also allows homeowners to envisage how they will adapt the room to their needs.

If you live in a villa, make sure the outside areas are manicured, landscaped and presented well.  This is your tenant or buyer’s first impression of your property so ensuring it is clean and well-kept is important. You only have one chance to make a first impression.

Have the property professionally cleaned so that it is sparkling clean! Polish, wax, sanitize and having carpets professionally cleaned will make all the difference as will cleaning the white goods which buyers or tenants are likely to look inside.

In Dubai, everything and anything collects dust, so outside spaces such as balconies and gardens are also worth giving some extra attention to so that people can visualise themselves spending time there.

You do not need to spend thousands in upgrades to sell or rent your home, but a little extra care and attention where required does help.  In particular, the kitchen – being one of the most social areas of the home – is often an area of contention i.e “we like the property but the kitchen is dated / small / not our style.  You do not need a whole redesign; resurfacing you counter tops, retiling the floor and cabinetry wraps are all largely economical ways of updating your kitchen.

Ambient lighting makes rooms feel bigger – add uplighters and table lamps to living spaces especially where the main light does not reach every corner of the room.  Wall mirrors also make a room look much bigger and lighter and replace any broken light bulbs!

Buyers and tenants always notice something when they walk inside your home – the smell! Whether that is good or bad. Bad smells are a huge turn off for prospective buyers and tenants – clear drains, wash bins, rid the kitchen of old cooking smells and ensure your home is smoke free.

Investing in a few strategically placed automatic air fresheners is also beneficial to give your home a modern, fresh smell.

If the property is vacant we recommend connecting the DEWA and running the AC to avoid any damp or moldy smells as this has proven off putting to the clients on numerous occasions.

For landlords looking to rent out their property, this will be one of the main factors you have to consider when you decide to rent your property.  Furnished properties are more likely to rent easily when the furnishings are neutral, modern and contemporary!

Tenants and buyers want to put their own personal touch on their home which is much harder in a property filled with someone else’s personal effects! If its bold, bright and an acquired taste then we recommend removing it.

Unfurnished properties offer a complete blank canvas for tenants and are a popular choice for those who have lived in Dubai for a number of years and have their own furniture.

Consider including white goods if your property does not come with these as standard as most tenants prefer not to have to purchase these additionally.

Why wait to make minor repairs? Holes in walls, broken door knobs and cracked tiles are all an easy fix and give people confidence in the property knowing they can move in without having to make any changes.

Take care of the small things and the big things will take care of themselves.

If you, the homeowner, are at the property during the viewings we recommend that you DO NOT follow the agent, buyer or tenant around the property as the client will not feel comfortable expressing themselves freely.  We recommend taking a seat in the living room or dining room and letting the agent take the client around the property.

At the end of the viewing if there are any questions they can then be asked. It is important to the let your agent do the job as they know best on how to sell or rent your property.

If your property is vacant and you cannot attend the viewings it is important that you inspect your property on a weekly basis or ask you agent to update you on all of the above to ensure all is in good shape.