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Building Mortgage
The Customer may mortgage the Company’s assets (real estate, commercial, shares) to obtain financing from a lender. The Customer has the option to amend, renew and release their Mortgage.
Process Steps
- Customers can log in to Dubai Trade Portal
- Navigate to “Registration” and select “Mortgage or Pledge- Approval.”
- Select ‘New Building Mortgage’, ‘Change Building Mortgage’ or ‘Cancellation of Mortgage – Building Mortgage’ to submit a request for the corresponding service required.
Documents Required
A. New Building mortgage
- Resolution from the Company regarding Building Mortgage written on FZE’s/FZCO’s Letterhead.
- Building Mortgage Application “Deed” and Mortgage Contract (to be signed in Jafza)
- Certificate of Completion (75% Complete) From Trakhees – Civil Engineering Department
- Letter from the Bank (Signed by Power of Attorney (POA) holder)
- Covenant for Assignment From Bank (Available in Jafza.ae – Customers- Forms & E-services – Commercial).
- Power of Attorney from the Bank and Company with Passport Copy of Power of Attorney (POA) holder
- Building evaluation report
- License Copy of the Bank
B. Change Building Mortgage
- Resolution regarding the Amendment signed by the authorised signatory written on FZE’s/FZCO’s Letterhead
- Amendment of Building Mortgage Application must be signed before the Jafza Registrar
- Power of Attorney from both Parties, the Company and the Bank (notarised and attested)
- Passport copy of the Power of Attorney (POA) holders
- Original Mortgage Certificate
- Request letter from Bank duly signed by the Power of Attorney (POA) holders
- Request letter from the Company duly signed by the Power of Attorney (POA) holders
C. Cancellation of Mortgage – Building Mortgage
- Release of Building Mortgage Application must be signed before the Jafza Registrar
- Power of Attorney from both Parties, the Company and the Bank (notarised and attested)
- Passport copy of the Power of Attorney (POA) holders
- Original mortgage certificate
- Request letter from Bank duly signed by the Power of Attorney (POA) holder
- Request letter from the Company duly signed by the Power of Attorney (POA) holder
Fees
New/Change
| 0.12% of the total value of the Mortgage | |
| Mortgage certificate fees | AED 200 |
| Specimen Signatures (each) | AED 50 |
Cancellation
| Release Mortgage letter | AED 500 |
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