Pros and Cons of using a Mortgage Broker in Dubai

Pros and Cons of using a Mortgage Broker in Dubai - eMortgage best mortgage providers in Dubai

Pros and Cons of using a Mortgage Broker in Dubai

Dubai is a vibrant, bustling city where the real estate market is continuously evolving. As an expatriate living in the city, you may want to take advantage of this dynamic market and purchase a property using a mortgage loan. If you are considering taking out a mortgage loan, then it might be beneficial to work with a Mortgage Broker based in Dubai.

Using a mortgage broker in Dubai can be helpful because they specialize in this field and have access to resources that you may not have as an individual homebuyer. A mortgage broker’s experience will help you navigate the many available mortgage options and find the best loan for your needs.

With its vast number of opportunities, it is no wonder that people are considering taking out mortgages in Dubai. However, it can be difficult to decide whether or not you should use a mortgage broker in this situation. But, Purchasing a home can be a daunting experience, especially if this is your first time. Using a mortgage broker in Dubai is one option that many home buyers consider. Let’s take a look at the pros and cons of using a mortgage broker in Dubai.

What is a Mortgage Broker?

A mortgage broker is a qualified professional that helps borrowers obtain financing from lenders. They act as intermediaries between the lender and borrower, helping to secure the best possible deal. Mortgage brokers are knowledgeable about different loan products and can provide valuable advice on the most suitable product for your circumstances.

Pros of Using a Mortgage Broker in Dubai

  • Evaluate Buyer and Seller requirements: They evaluate the needs of both the borrower and the lender and introduce them accordingly so that the chances of the deal closing are 100% guaranteed.
  • Evaluate Borrowing Power: The mortgage broker can help you determine how much you can borrow based on your income and current financial situation.
  • Compare Options: A mortgage broker can assist the borrower in making a comparison of all available mortgage options and can guide the borrower in selecting the best option among all.
  • Negotiate with Lenders: Mortgage brokers can also help borrowers in negotiating better terms and conditions with the lender, such as lower interest rates, and flexible repayment plans.
  • Save Time: A mortgage broker can save the borrower a great deal of time in the process of sourcing, evaluating, and comparing different loan options.
  • Expertise and Experience: Mortgage brokers have expertise and experience in the local real estate market and can give valuable advice on different loan products.

The Cons of Using a Mortgage Broker in Dubai:

  • Cost: Mortgage brokers charge a fee for their services, which can add to the cost of your loan.
  • Commission-Based: Mortgage brokers are often commission-based, meaning that they may be incentivized to recommend certain loan products and may not always work in the best interest of the borrower.
  • Limited Options: A mortgage broker may not always have access to all loan products, especially if they are tied to specific lenders.
  • Unregulated Market: The mortgage broking industry in Dubai is largely unregulated, which can sometimes lead to unethical practices by some mortgage brokers.
  • Direct Lending May Provide a Better Deal: Some lenders may be willing to offer better terms and rates than those offered by a mortgage broker, so it always pays to shop around and compare deals.
  • Potential Misalignment of Interests: Mortgage brokers may be more focused on their own commissions than the borrower’s best interests, so it is important to research different brokers and read reviews before selecting someone to represent you.

When Should You Consider Hiring a Mortgage Broker?

If you want to find home loans that aren’t readily advertised to you, you should use a mortgage broker. If you don’t have perfect credit, have a unique borrowing situation, such as owning your own business, or simply aren’t seeing mortgages that work for you, a broker may be able to get you access to loans that will benefit you.


Regardless of their situation, many people prefer to work with a broker because it gives them access to lenders they might not have considered otherwise. Mortgage brokers may also be able to assist loan applicants in qualifying for a lower interest rate than most commercial loans offer.

What Is the Role of a Mortgage Broker?

Mortgage brokers are an invaluable resource to anyone seeking financing for a home. They provide expert advice on the best financing options available, taking into consideration the borrower’s financial situation and goals. They collect all necessary information, such as income, assets owned, employment details and more, in order to assess the borrower’s ability to secure a loan. Mortgage brokers can help borrowers find competitive interest rates and make refinancing a home loan easier.


Additionally, they provide the best guide on the process of purchasing a new home. By utilizing a mortgage broker, one can be assured that they will be guided in finding and securing the best possible financing solution for their needs.

Pros of using a mortgage broker in Dubai include access to multiple lenders, convenience, and potentially better rates. Cons include additional fees and the possibility of biased advice. Ultimately, it is important to carefully weigh the pros and cons and thoroughly research potential brokers before making a decision.

At eMortgage, our mortgage brokers are licensed and experienced professionals that offer impartial advice on loans from a range of lenders. We will help guide you through the entire process, so contact us today for more information.