We recently assisted clients with the successful purchase of a luxury penthouse on the iconic Palm Jumeirah, securing bespoke mortgage terms for a transaction that presented several complexities under standard UAE bank policy, specifically around self-employment and retirement age borrowers.
UAE Residents
AED 13,500,000
2 Year Fixed
LTV 60.00% / Rate 4.40%
The case involved a mixed-income structure, with the primary applicant operating as a self-employed business owner through a single-employee company, alongside a salaried spouse. This combination can often prove challenging within the UAE lending market, as many banks apply conservative affordability assessments to self-employed applicants and have strict policies around income combination and retirement age limits.
In addition, arranging mortgage financing extending to the age of 75 is not commonly available across all lenders, particularly on high-value properties and where self-employed income forms a key part of the application.
Through careful lender selection, detailed packaging of the clients’ financial profile, and proactive management of the underwriting process, we were able to secure favourable financing terms that met both the clients’ affordability objectives and the lender’s policy requirements.
The successful outcome enabled the clients to proceed with the acquisition of their Palm Jumeirah residence with a competitive fixed rate structure, while maintaining a comfortable long-term repayment profile aligned to their wider financial planning objectives.