A loan against property in the UAE (LAP) is a financial product that allows an individual or a company to borrow money using their property as collateral. In the United Arab Emirates (UAE), LAPs are becoming increasingly popular as a way for individuals and businesses to access funds for various needs, such as home improvements, debt consolidation, or business expansion. In this blog post, we will take a closer look at how to obtain a loan against property in the UAE.
• LAP can be availed with a combination of Overdraft & Term Loan facilities. The flexibility of Overdraft and “pay as you use” interest cost
• High Limits up to AED 8.0 Mio with a higher Loan to Value up to 120% of the property value
• Flexible payment options for up to 86 months
• The option to select Islamic Business Finance.
A loan against property is a secured loan where you use your property as collateral to borrow funds for various purposes.
The loan amount you can borrow with a loan against property depends on the market value of your property and your repayment capacity.
Defaulting on a loan against property may lead to the lender seizing your property as collateral to recover the outstanding loan amount.
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