Document background
The Letter of Intent for Mortgage is a crucial preliminary document in the UAE property financing process, typically used when a prospective borrower wishes to formally communicate their intention to obtain mortgage financing from a lending institution. This document is particularly relevant in the UAE's highly regulated property market, where strict lending criteria and property registration requirements must be observed. The letter serves as an initial step in the mortgage application process, providing essential information about the borrower, the target property, and the proposed financing terms, all while adhering to UAE Federal Mortgage Law and Central Bank regulations. It helps establish the framework for subsequent mortgage negotiations and is often required by UAE banks before proceeding with a full mortgage application.
