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FAQ

Mortgage Loan on Gifted Properties

CBD offers Mortgage Loan on Gifted / Granted Properties to UAE Nationals subject to:

• Applicant working in in Govt./Semi-Govt. in the emirates of Dubai,  Abu Dhabi and Sharjah & Federal Govt. across all Emirates
• Gifted land should not be primary residence of the borrower
• The Purpose of finance should only be for construction & or  extension of the residential gifted land 
• Upfront approvals required from respective Lands Dept. and Municipality allowing first degree or second degree mortgage charge
• LTV of up to 80% of the construction value if there is no Govt aid. However in case of Govt aid, provided then 100% financing of construction value (minus the government aid)
• Mandatory Salary transfer to CBD
• Customers written consent on property will solely be used for investment/rental purposes and shall not under any circumstances be used for self-use
• Customer to provide copy agreements with contractor & consultant along with stage wise payment schedule
• Gifted land needs to be converted to Freehold and fresh Title Deed with freehold status to be provided in case standard criteria for UAE Nationals to be applied.

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