Handover Payment Eligibility
- Residency Status: Both residents and non-residents can apply
- Property Type: Off-plan properties, residential units, and commercial properties.
- Handover certificate: You must have the handover certificate from the developer.
Documents required include:
- Sale and Purchase Agreement
- Valid passport and Emirates ID for residents/original ID from the home country for non-residents.
- No Objection Letter
- Financial Documentation
Why Choose My Mortgage
01
Tailored handover payment solutions for near and final payment settlements.
02
Leverage competitive interest rates with flexible payment plans.
03
Streamlined documentation for instant approvals
04
Dedicated customer support throughout the handover payment process.
FAQs
A handover payment is the final payment made by a buyer to secure ownership of an off-plan property in the UAE. Usually, this payment constitutes 50-70% of the total property price and is due upon completion of construction. It signifies the transition from the developer to the buyer, allowing the buyer to take possession of the property.
A handover payment is a lump-sum payment made at the completion of a property, while a post-handover payment plan allows buyers to spread remaining payments over time after taking possession. Handover payments are generally required upfront, whereas post-handover plans provide flexibility, enabling buyers to manage cash flow better.
Financing your handover payment helps manage the significant upfront cost of acquiring a property, making homeownership more accessible. By offering flexible handover payment solutions, My Mortgage helps home buyers avoid depleting their savings and maintain financial liquidity.
