There are many steps involved when you buy a property in Dubai, and the process can involve up to nine parties. Once your mortgage is pre-approved and you have made an offer on a property that has been accepted, there are still legal and administrative processes to complete. You may see these processes referred to as case or loan progression.

The number of additional steps involved includes everything needed to manage the handover of the property from the seller to you. It may feel overwhelming but it doesn't need to be.

This does not need to be a headache and at Holo, we aim to make it smooth by facilitating the whole process from start to finish. Here we walk you through the journey from start to finish with estimated timelines so you know exactly what to expect.

Once an offer has been accepted on the property. The seller's representative will draft a contract or MOU as it is known in the UAE outlining the conditions of the sale.

Once the MOU is signed, the bank will undertake the valuation of the property. If you are applying for a mortgage in Dubai, the bank lending you the money will instruct a representative to value the property. We will arrange this part of the process with the bank. Once the valuation is complete, the bank will issue your Final Offer Letter or FOL, confirming the mortgage amount.

Holo will organize the transfer of the property for you and can even help with the settlement of the seller's mortgage. Transfer of ownership is completed at the Trustee's Office in Dubai.

Payment is then transferred from the buyer's representative to the seller, and the keys are released to the buyer.

One of the most common mortgages frequently asked questions we get is how long the mortgage process takes. From the start of the process through to completion, the purchase journey in Dubai takes on average 6-8 weeks, though it may be longer. Holo aims to speed up the process by managing as much of the process on your behalf. Several factors can cause delays such as whether the property is in a chain, paperwork is completed incorrectly or issues are found during the valuation process. But don't worry we will work with you to smooth through any bumps in the road.

Why use Holo?

Holo offers digital mortgage services including a mortgage calculator and an online mortgage application. Using a mortgage calculator in Dubai will help you understand how much you could borrow. Our digital mortgage platform has access to over 500 products from across the UAE's banks, the best Dubai mortgage interest rates and our team of mortgage experts will hold your hand all the way through.

Ready to start your journey toward owning a home? Let Holo help, we're 100% free.