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Amlak PLUS is a product designed to lower your monthly payments for the first 5 years. The monthly payments gradually increase as your earnings are expected to go up. You will hence pay a 10% lower monthly payment during the first 5 years. Alternatively you could own up to a 10% larger home for yourself.
This product is ideal for customers looking to enhance their affordability and also take the benefit of a lower profit rate than normal Ijarah during the first 5 years. Owning your own home doesn’t have to be difficult, in fact it’s easier with Amlak PLUS.
- Reduce your monthly payment by 10% for the first 5 years with a gradual increase thereafter keeping pace with your expected rise in income over time
- Option to increase your eligibility by up to 10%
- Faster approvals & simple documentation
1 Hour Approval
One hour service is a promise to pre-approve the application within one hour. Amlak will not be charging any fees for this service. This service covers all products of primary & secondary markets.
Valuation and Approval
- All primary market offerings are exempt from valuation and payments are made by Amlak to the developer directly once all the paper work has been finalized
- Secondary market offerings are subject to valuation by any of Amlak’s approved surveyors, as part of the approval process, after which the payment is made by Amlak directly to the seller
- Only residents of the UAE, whether Self-employed or Salaried are eligible
- For Self-employed customers, the lease term must be concluded by the age of 65
- For Salaried - Resident Expatriates, the lease term must be concluded by the age of 60
- For Salaried - UAE Nationals, the lease term must be concluded by the age of 65
- Finance is available for ready to move and under construction residential freehold and leasehold properties
- The applicant must be 21 years of age or older at the time of application
Finance amount
- Finance of up to 90% of the property value can be availed
- Minimum finance amount: AED 250,000
- Maximum finance amount: AED 10 Million
Tenor
- Up to 25 years for UAE Nationals
- Up to 25 years for Resident Expatriates
For all customers:
- Application form
- Passport copy along with a copy of the residence visa page
- Sale and purchase agreement with seller
- Receipt of down payment (where applicable)
* Note: Additional documents maybe sought based upon your application score.
- Application fees at approval - AED 6,000
- Processing Fees 0.75% of finance amount
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