Ask an Expert
Every quarter we will be featuring customer queries answered by our in-house experts in home finance and real estate.

Read on and you may find just the answer that you have been looking for.
  1. What is the benefit of re-financing? Can I apply for re-financing?

    Re-financing allows you to convert the current market value of your property into liquid finance, releasing the equity that has built up and allowing you to use the funds for all your present needs.

    This finance can be used for home improvements, children's higher education, starting your own business or even purchasing a second home.

    Whether salaried, self-employed, resident or non-resident, at Amlak anyone can apply for re-financing as long as the property is ready.


  2. What is the difference between Islamic and Conventional Property Financing?

    • Islamic Financing: Under this scheme the property will be owned by Amlak and a profit rate is charged due to Amlak buying the property and leasing it to the buyer for profit.
    • Conventional Financing: Under this scheme the customer owns the property and it will be mortgaged under the company’s name and an interest rate is charged to the customer.


  3. Has the land registration process started? And when will applications be accepted?

    The land registration process has begun and we have already started receiving applications at our branches. The documents required for application are listed below:
    • Declaration from customer (form available at branches)
    • Customer information sheet (form available at branches)
    • A Manager’s Cheque (banker’s draft) representing 1.75% of the financed value plus AED 380 issuance fee (for Ijarah Islamic Financing). This cheque should be made out to "Dubai Land Department"
    • Photocopy of passport along with original for verification
    If you own multiple apartments you must submit a separate set of documents and cheque for each individual unit.
Got more questions? Send it to our experts and we will answer them for you in the next quarterly issue of Amlak CONNECT. Click here to send us your queries.