UAE mortgage market becoming increasingly complex
The UAE’s mortgage market is becoming increasingly complex, according to industry experts, with mortgage application approvals considered to be the top reason for delays in the buying process.
What property buyers look for, beyond rates or the reputation of the lender, is the speed with which a mortgage can be processed. “Speed is everything in the UAE’s property buying market,” says Chris Dommett, newly-appointed CEO of John Charcol Dubai.
“John Charcol Dubai is delivering quality brokerage and quick execution to the UAE, and we have more than three decades of experience behind us to support our model,” Dommett adds. “We firmly believe that there is strong UAE demand for our principle offering: independent mortgage advice that respects the time constraints of every customer, large and small.”
Established in 1974, the John Charcol company is the United Kingdom’s leading independent mortgage advisor.
John Charcol Dubai, an independent franchise operation, was launched in 2007 and currently works closely with the country’s leading financial institutions, property developers, and estate agents to bring speed and transparency to the UAE’s property buying process.
“Chris Dommett is a UAE mortgage expert and, as chief executive officer, brings considerable weight and reputation to John Charcol Dubai’s operations,” says Mishaal Al-Usaimi, Chairman of John Charcol Dubai and CEO of Saffar Capital, the leading financial services investment company which holds the majority stake in John Charcol Dubai.
Dommett comes to John Charcol Dubai from the UAE’s Emirates NBD bank, where he served most recently as Head of Retail Credit. Previously Dommett worked with Standard Chartered bank in offices around the world, notably developing and launching mortgage products in Brunei, Qatar, and the UAE.