The glossary.

Every term you'll meet between "I want to buy" and keys. One sentence each.

AECB

Al Etihad Credit Bureau — the UAE's credit registry. Your score and existing obligations live here; every bank checks it.

Buyout

Moving an existing mortgage from one bank to another, usually to escape a high reversion rate.

DBR

Debt Burden Ratio — total monthly debt payments as a share of income. Capped at 50% by the Central Bank.

DLD

Dubai Land Department — registers ownership and collects the 4% transfer fee on Dubai purchases.

EIBOR

Emirates Interbank Offered Rate — the benchmark UAE variable mortgages are priced over.

Early settlement fee

Charged when you repay or move a mortgage early. Capped at 1% of the balance or AED 10,000, whichever is lower.

Ijara

Islamic lease-to-own structure: the bank buys the property and leases it to you while your ownership share grows.

LTV

Loan-to-value — the loan as a share of the property price. 80% LTV means a 20% deposit.

Murabaha

Islamic cost-plus structure: the bank buys the property and sells it to you at an agreed markup, paid in instalments.

NOC

No Objection Certificate — issued by a developer confirming no outstanding dues before transfer.

Offer letter

The bank's formal, binding terms: rate, margin, fees, conditions. Read the reversion clause twice.

Pre-approval

A bank's in-principle commitment to lend you a stated amount, typically valid 60–90 days.

Reversion rate

What your rate becomes after the fixed period — usually EIBOR plus a margin. The most expensive line most people never read.

Salary transfer (STL)

Routing your salary to the lending bank. Unlocks the best pricing at most banks; not always required.

SPA

Sale and Purchase Agreement — the contract between buyer and developer or seller.

Valuation

The bank's independent assessment of the property's worth. The bank lends against the lower of price and valuation.