What's the meaning of a mortgage in the UAE?

A mortgage is a loan provided by banks or financial institutions to help individuals purchase property. This loan is secured against the property itself, meaning the property acts as collateral for the borrowed amount.

Generally, borrowers must make a down payment, which varies based on property value and nationality. Mortgages in the UAE can be used for residential, commercial, or investment properties, and they often come with specific terms and conditions set by the lender.