UAE Central Bank issues mortgage rules | GulfNews.com:
"The UAE Central Bank has issued new rules governing the amount of financing banks can provide, the so-called loan-to-value (LTV) ratio, for buying real estate.
For home loans valued under Dh5 million, financing should not exceed 80 per cent for nationals and 75 per cent for expatriates.
Mortgages cannot exceed 25 years and the monthly installments should not exceed 50 per cent of the total monthly income of the borrower.
The new real estate mortgaging system encompasses strict lending and guarantee rules as well as an assessment of the client’s credit rating amongst other conditions which are aimed to further bring stability and regulate the property and banking sectors."
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