Overseeing the real estate market in the emirate, the Dubai Land Department (DLD) provides a range of services to the people. From buying properties to issuing certificates, the leading authority provides a smart platform for all its services. Additionally, DLD caters to property mortgage-related services including the release from loan. The mortgage release application with DLD is an essential document for the property-buying process in Dubai. Let’s dive into the details of the mortgage release application procedure by DLD and learn more about the requirements for obtaining it.
Mortgage Release Application with DLD
The structure of mortgages in Dubai includes several verifications and documents. Many people in the emirate purchase properties on mortgages. However, once the mortgage is settled, it is important to get a release letter as proof. DLD has an easy and seamless process for obtaining this document.
Let’s go through the process details.
SERVICE DESCRIPTION
The service includes the mortgage release of all types including the following:
- Mortgage release application
- Provisional mortgage release application
- Usufruct mortgage release application
- Provisional mortgage registration release application
- Portfolio mortgage release application
This DLD service allows concerned parties to apply for the release of all types of mortgages on properties, benefiting banks and housing institutions for UAE citizens.
REQUIRED DOCUMENTS
Applicants applying for this DLD service need to submit the following documents:
Through the bank (online mortgage system) for regular mortgage removal:
- UAE ID of the owner (for identification purposes only, no copy to be submitted)
Through the Registration Registrar’s offices:
- A letter from the bank requesting mortgage removal
- UAE ID of the owner (for identification purposes only, no copy to be submitted)
For mortgage removal applications related to sale procedures, usufruct mortgages, provisional mortgage removal, provisional registration mortgage removal, portfolio mortgage removal or any mortgage removal followed by a procedure, the application must be submitted at a registrar’s office. Regular mortgage removal applications can be submitted online via the bank’s mortgage system.
SERVICE FEE
- AED 1000 fee for mortgage removal in the case of an ordinary mortgage with an ordinary title deed or usufruct title deed.
- AED 250 fee for issuing a certificate of title/title deed.
- AED 10 knowledge fee for each drawing.
- AED 10 innovation fee for each drawing.
Service Partner Fees:
- AED 300 service fee + VAT on the service partner’s fee.
SERVICE PROCEDURE
Via the Online System:
- The customer prepares the mortgage release requirements with the bank.
- A bank employee uploads all required documents to the online mortgage system, where the transaction will be audited by the bank auditor (documents are uploaded via the digital safe).
- The transaction is sent to the department for auditing and the department’s fees are deducted from the bank account.
- The customer receives the outputs by e-mail.
Via the Service Centre:
- The customer visits a service centre – Real Estate Registration Trustee Offices.
- The customer submits the required documents to an employee to ensure no documents are missing (all documents are uploaded via the digital safe/treasury).
- An employee enters the transaction details into the system and it is audited.
- The customer pays the fees and receives a payment receipt.
- The customer receives the outputs by e-mail.
Applicants can apply for the mortgage release application with DLD via the following channels:
- Dubai Land Department website (online mortgage system)
- Real Estate Registration Trustees Centres
PAYMENT METHODS
- epay
- Sadad Dubai platform
- Noqodi
- Manager’s check in favour of the Land Department
ISSUED DOCUMENTS
Upon verification and approval, the applicant gets the following documents depending on the application:
- Mortgage release letter (if registered)
- Certificate of Title
- Title deed
- Usufruct title deed
- Statement certificate
- Provisional sale registration certificate (Oqoodi)
- Fee balance (all outputs are e-deliverables)
SERVICE DELIVERY TIME
The service takes 10 to 15 minutes.
RESIDENCY STATUS
- UAE citizen
- Resident
- Tourist
FAQs
What is the Mortgage Release Application Service Fees by DLD?
There is an AED 1000 fee for an ordinary mortgage and the presence of an ordinary title deed/usufruct title deed. Additionally, DLD charges AED 250 for certificate or title deed issuance along with AED 10 for knowledge and innovation fees. Furthermore, AED 300 is charged as VAT tax on service partners and service fees.
What Are the Mortgage Release Application Payment Methods Provided by DLD?
The payment methods for the mortgage release application with DLD include Noqodi, the manager’s check in favour of the Land Department, epay and the Sadad Dubai platform.
Can I Buy a Mortgaged Property in Dubai?
Yes, it is possible to buy mortgage properties in Dubai and other emirates. However, be wary of all the requirements to ensure a hassle-free process.
There you have it — the steps to apply for a mortgage release application with DLD. The land department provides an easy platform to apply for the mortgage release application. Be sure to fulfil all the requirements to avoid any delays or application rejection. DLD also has services for mortgage termination in Dubai for the people in the emirate.
It is also possible to sell a mortgaged property in Dubai; however, know all the considerations to ensure a legitimate process.
Moreover, if you are looking to buy properties in the city, browse through these new projects in Dubai and explore some amazing investment opportunities and living experiences.
Stay connected with dubizzle’s property blog to learn about property-related service procedures and more.
