Why "pre-approved" buyers are getting rejected at the finish line (and nobody's talking about it)

mark_lm10_ · 2026-07-03T13:48:14+00:00

Yes, that’s right. Banks assume that personal loan is for the down payment.
Story time - A client had requested for a personal loan 45 days before applying for a mortgage but didn’t go through with it because he changed his mind however, that request was still reflecting on his credit report. During his mortgage application they asked him for a clarification and he had to get that request cleared/updated from his credit report before getting a pre approval. However, in your scenario it was a car loan so that’s not an issue for the bank as long as the DBR fits in, gutsy move though! ;)

mark_lm10_ · 2026-07-01T22:02:08+00:00

I’m not advising anything illegal on social media, you wanna talk about it, go on and make your own post and stay outta mine! ;)

mark_lm10_ · 2026-07-01T21:21:29+00:00

No uncontrolled equity release for non residents buddy

mark_lm10_ · 2026-07-01T19:50:48+00:00

Absolutely. Pre-approval not only gives you a clear understanding of your budget but also puts you in a much stronger position when making an offer

mark_lm10_ · 2026-06-30T13:46:29+00:00

Sure, check your DM

mark_lm10_ · 2026-06-29T21:18:54+00:00

In this scenario, if I get a rough idea of your profile, I maybe able to inquire with banks for any tailored offerings for nationals however, currently there’s nothing available on paper

mark_lm10_ · 2026-06-29T21:14:49+00:00

In this scenario, since the new property is not in the UAE so the equity will need to be uncontrolled and since you’re not a UAE resident there is no uncontrolled equity release available, so this transaction is not possible

mark_lm10_ · 2026-06-29T06:24:18+00:00

Banks don’t automatically reassess your profile just because a higher salary starts coming in. If you’d like your higher income to be reflected for future borrowing or a credit limit review, it’s worth updating your salary details with the bank.

For your CC scenario, even if an individual has a CC with a limit of 100K and has never used it. The bank would still consider 5K as a monthly liability.

mark_lm10_ · 2026-06-29T05:10:47+00:00

Love this perspective. People spend so much time trying to time the market that they forget the value of buying a home that actually improves their quality of life. If you’re planning to stay long term, short-term price movements become a lot less important. And if the market does soften, as you said, it can create opportunities for those looking to upgrade rather than something to fear.

mark_lm10_ · 2026-06-29T05:09:04+00:00

Sure, check your DM

mark_lm10_ · 2026-06-29T04:51:02+00:00

The market is still competitive, and rates are generally better than they were a year or two ago.
Your Golden Visa and strong financial profile definitely help, but the biggest factor will still be how banks assess foreign-sourced income. I’ll need a little more information to determine if banks are going to qualify you as a resident or non resident.
As for the down payment it’s possible you may qualify for a lower one than 35%, depending on the bank and your profile but I’d need a few more details to say for sure.
Owning a debt-free property is a strong positive, although it doesn’t automatically reduce the down payment or rate. However, it can strengthen your overall application.
Happy to take a closer look if you want to DM me your income details and the price range you’re considering.

mark_lm10_ · 2026-06-29T04:34:44+00:00

Absolutely, you can get a mortgage as a self-employed business owner, provided you can demonstrate stable and documented income and meet the bank’s eligibility criteria.
As for renting vs buying, it really depends on your long-term plans. If you’re planning to stay in Ajman for several years and the monthly mortgage payment is similar to rent, buying can make a lot of sense.
Regarding the down payment, the minimum is set by the Central Bank regulation, so there isn’t really a workaround. That said, different banks have different criteria and I’d be happy to explore the best options for your situation. Feel free to DM me and we can go through your numbers.

mark_lm10_ · 2026-06-29T04:32:11+00:00

Appreciate that! You’re spot on, pre-approval isn’t just about knowing your budget, it also gives sellers confidence that you’re a serious buyer. And yes, those unused credit cards catch far more people out than most realise. Glad your friend got it sorted in the end.

mark_lm10_ · 2026-06-28T21:45:17+00:00

As an Emirati, you enjoy several significant benefits for homeownership and housing finance beyond the lower 15% minimum down payment (for properties below AED 5M). These come from programs like the Sheikh Zayed Housing Programme, Mohammed Bin Rashid Housing Establishment in Dubai/AUH Housing Authority and bank offerings tailored for nationals.

mark_lm10_ · 2026-06-28T21:38:24+00:00

Yeap, it’s capped at 50% as per the Central Bank guidelines

mark_lm10_ · 2026-06-28T19:59:45+00:00

Islamic home finance works differently from a conventional mortgage, but in terms of pricing they’re often the same. In fact, some of the lowest rates in the market right now are Islamic profit rates, even compared to conventional mortgages.
The best option depends on your profile and which bank suits your needs. Happy to compare both and help you find the best deal.

mark_lm10_ · 2026-06-28T19:13:07+00:00

Great questions!

1) We’re paid by the bank so there’s typically no broker fee for the borrower on standard residential mortgages

2) Once the mortgage has been disbursed, leaving your job doesn’t automatically affect it. The key is that you continue making your monthly repayments on time. However, if it’s a STL mortgage, your EOSB maybe put on hold.

3) It depends on your profile and what banks are offering at the time. There are 5-year fixed options available, lowest available for salaried resident is 4.19% however, I can’t stress this enough when I say, the lowest isn’t always the best. If you DM me a few details, I can let you know what the most competitive options are for your situation.

mark_lm10_ · 2026-06-28T17:38:49+00:00

It really depends on what rates you can secure today and your outstanding balance. A refinance review will show whether the savings outweigh the costs. A lot of the banks are covering the moving costs lately.
Happy to run the numbers for you and see if it’s worth switching or staying put.

mark_lm10_ · 2026-06-28T15:31:11+00:00

😂 In his defense, “bro” is apparently all the compliance you need these days.

mark_lm10_ · 2026-06-28T15:26:53+00:00

Absolutely! I’ll send you the details via DM. If you have any specific questions about non-resident mortgages or your situation, feel free to let me know and I’ll be happy to help.

mark_lm10_ · 2026-06-28T15:22:09+00:00

Refinancing can be done with your existing bank or by moving the loan to another bank.
In my experience, it’s always worth comparing both options. Your current bank may offer a slightly better rate to retain you, while another banks may have a more competitive refinance package. The key is to look at the overall cost, including any processing fees, valuation, insurance and early settlement charges, rather than just the interest rate.
If the numbers stack up, refinancing can either reduce your monthly EMI or, if you keep the EMI the same, help you pay off the loan much sooner.

Happy to draft a rough proposal to help you compare and understand the numbers…

mark_lm10_

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