Smart work instead of hard work – as cliched as it sounds – is a fundamental principle when it comes to money management. Particularly in first world countries like UAE with massive cash flows at every front, one needs to be able to find ways for the capital to pour back in as smoothly as it drains out. Where finding new ways of generating capital is important, it is equally important to manage the existing resources to the best of your interest. Owning property via mortgage is one of the universally acclaimed ways of smartly multiplying your assets without burdening your pocket beyond means.
Pay 25 Percent and claim the property to go rent free:
One of the biggest drains on the pocket in modern metropolitan cities is rental accommodation. Stats reveal that about 70 percent expats living in UAE prefer rented homes over buying their own property. The trend is uncanny because thousands of Dirhams go down the drain every month in the lieu of rent without adding anything to the inhabitant’s net worth. Alternatively, by paying 25 percent down payment and gaining mortgage over the rest, one can move on to paying mortgage installments every month in place of rent and convert a liability into an asset. Fortunately, UAE market is full of banks and lenders that have got to offer a wide range of mortgage loans to cater the needs of a diversified audience.
Refinance your existing mortgage for better rates:
Mortgage market keeps evolving at a steady pace and it is fairly important to keep an eye on the emerging trends in order to grab better opportunities. If you already have a mortgage and are paying a settled amount every month, you can always check for better rates and terms either with the same lender or with a new one to refinance your mortgage. If done smartly, refinancing can help you save thousands of Dirhams in the longer run. However, there is some fee for refinancing and you need to calculate the benefit keeping in account the cost incurred on refinancing to reap the maximum profit. Mortgage terms have been refined in recent years in UAE towards the betterment of the borrowers and lenders are offering far better mortgage rates and conditions. According to experts, there have never been a better time for mortgage in UAE than now. Therefore, refinancing is a highly popular consideration for investors and homeowners at present.
Experts guidance for better mortgage options:
UAE mortgage market is rich and diversified with hundreds of plans to choose from. It’s not only a strenuous task but finding the best solution most suited to your needs and circumstances can be tricky without an expert advice. Brokers and lenders have the room to play around mortgage rates and terms in a variety of ways and it takes a geek to craft the deal in the borrower’s best interests. Fortunately, there are experts out there who provide complete guidance in this area and help find the best available deals from the market. Of course, there are charges against this service but paying an expert enable you to make best deals and save more in the longer run. Denying an expert’s services to save the fee would be tantamount to being penny wise pound foolish.
There is no right time to take the first step towards the right decisions. Click here to check your eligibility for mortgage in UAE free.
