Mashreq Bank Mortgage
Long-established bank with strong mortgage offerings and innovative digital solutions.
Key Terms & Rates
Interest Rate Range
4.45%–6%
Fixed & variable options
Maximum LTV
75%
Loan-to-value cap
Processing Fee
AED 1,500
One-time application fee
Pre-Approval Timeline
6d
For salaried professionals
Minimum Salary
AED 5,000
Typical requirement
Early Settlement
Allowed with minimal penalty
Prepayment terms
Islamic Options
Yes
Sharia-compliant products
Status
Active & Competitive
Updated April 2026
Strengths
- ✓Lowest processing fees in market
- ✓Good rates for properties under AED 2M
- ✓Strong digital mortgage platform
- ✓Flexible income documentation for freelancers
Weaknesses
- ✗Lower LTV than some competitors
- ✗Requires more detailed financial documentation
- ✗Longer disbursement timelines
Application & Approval Process
Pre-Approval Steps
- 1. Complete online/branch application with ID, salary certificate and bank statements
- 2. Bank verifies employment and credit history (2–3 business days)
- 3. Property valuation requested once property identified (1–2 days)
- 4. Final approval issued within 6 days total
Required Documentation
- • Valid passport & residency visa
- • Last 3 months' salary slips
- • Last 6 months' bank statements
- • Employment letter on company letterhead
- • Property-specific documents (once identified)
- • Proof of down payment source
Timeline to Disbursement
Pre-approval: 6 days. Full approval: +7–10 days post-contract. Disbursement: +2–5 days after final approval and title registration.
Ready to Apply?
Our team can help you prepare your application, compare final offers and negotiate rates with Mashreq Bankand competing lenders. Get your pre-approval in hand before your property search.