MORTGAGES & VISAS
Pre-approval
A bank’s written confirmation of how much it will lend you, valid typically 60 days, issued after checking income and credit. In the UAE, serious buyers get pre-approved before offering: sellers of good stock rarely wait for a buyer’s financing to start from zero.
Pre-approval costs little or nothing and firms up your true budget including DBR limits. It also strengthens your negotiating hand: a 10% deposit cheque plus pre-approval letter is a credible offer, an unfinanced enquiry is not.
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This explains the general case. If Pre-approval has come up in a live deal of yours, talk to the team: specific answers, registered numbers, no obligation.