Equity Release

Equity Release is a convenient yet effective option for a customer to avail cash against the value tied up in their property. Equity Release gives homeowners the flexibility of making use of their home equity value in order to have access to cash for other requirements.

Ajman Bank provides Equity Release for Completed Properties only (Both 1st and 2nd Rank Properties) and Land (1st Rank Properties)

Features & Benefits*

  • Maximum Finance amount up to AED 10 million against Property and AED 8 million
  • Maximum tenure up to 25 years
  • Finance to value of up to:
    • 1st Rank Mortgage:

Up to 80% for UAE Nationals and 75% for Resident Expatriates
Up to 65% for Land.

    • 2nd Rank Mortgage:

Up to 85% for UAE Nationals

  • Free Like Takaful (Insurance) for complete term of the finance
  • Financing available for Freehold & Non Freehold properties
  • Financing available for Residents only
  • Widest geographical coverage
  • Quick and Fast Approvals

*Terms and conditions apply

The following are the transactions available under this:

Type of Transaction Description / Interpretation
Equity Release
  1. Standalone Equity Release:- means customer can avail cash against his

    property/land

  2. Additional Finance ( Top Up):- Existing Ajman Bank customer can avail

    extra cash against his property/land already mortgaged with Ajman Bank

Eligibility

The following customers are eligible for availing Equity Release from Ajman Bank

  • UAE Nationals (Salary starting from AED 15,000)
  • Resident Expatriates (Salary starting from AED 20,000)

Documentation

  • Duly completed and signed application form
  • Valid passport/Khulasat al Khaid Copy/Valid visa/UAE National ID
  • 6 months Bank statement
  • Salary Certificate
  • Copy of Trade License (Self-employed)
  • Audited financial statements (Self-employed)
  • Relevant property papers (Not required for Pre-approval)

FAQs

Please click on the below link for frequently asked questions – Property Finance FAQ