Browse related articlesMortgage delays frustrate UAE homebuyers
United Arab Emirates: Thursday, August 21 - 2008 at 09:31
An increasing number of property buyers are growing frustrated by the delays often associated with securing a mortgage in the UAE, as the lack of a developed credit bureau continues to slow down application approvals, says Chris Dommett, CEO of leading independent mortgage advisor John Charcol Dubai. The mortgage approval process in the UAE can take banks up to six months to determine the creditworthiness of a potential buyer, he says. For this reason, he advises that potential buyers secure financing before they go ahead and select a property.
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Jeff Florian, Senior ReporterThursday, August 21 - 2008 at 09:31 UAE local time (GMT+4)
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