Mashreq Launches UAE's First Fully Digital Home Loan Pre-Approval

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Digital mortgage breakthrough: Mashreq transforms UAE home buying with instant pre-approval

Mashreq has launched the UAE's first fully digital home loan pre-approval service, delivering same-day verified eligibility letters to salaried expatriates.
The browser-based platform requires only three documents—Emirates ID, passport, and IBAN—eliminating the traditional multi-week approval process.
Eligible applicants must earn a minimum of AED 15,000 monthly and purchase property in Dubai or Abu Dhabi.
Loan amounts range from AED 100,000 to AED 10 million with tenors up to 25 years and rates from 3.70% for salary transfer customers.
The launch coincides with Dubai's record AED 917 billion real estate market in 2025 and new Central Bank digital-first mortgage mandates.

Mashreq, one of the Middle East's oldest and most digitally advanced financial institutions, has officially launched a fully digital home loan pre-approval service for the UAE market. The service, which went live on 14-15 January 2026, enables eligible salaried expatriate residents to obtain verified mortgage pre-approval letters on the same day they apply, entirely online and without visiting a branch.

The launch marks a significant departure from traditional mortgage processes in the UAE, which historically required extensive documentation and processing times of five to seven business days or longer. Mashreq's platform reduces documentation requirements to just three items: Emirates ID, passport, and IBAN.

How the Digital Pre-Approval Works

The browser-based platform conducts systematic income assessment, digital identity authentication, credit bureau verification through Al Etihad Credit Bureau, and comprehensive liability evaluation. All financial information is verified against official records rather than relying on self-declared data, meaning the pre-approval represents a genuine bank commitment rather than an indicative estimate.

Applicants can submit details online at any time, pause and resume their application at their convenience, and receive a verified pre-approval letter the same day. This contrasts sharply with the traditional 40-56 day journey from initial application to final mortgage approval that previously characterised the UAE market.

Eligibility Requirements and Loan Parameters

The service currently targets salaried expatriate residents with a minimum monthly income of AED 15,000 who are purchasing property in Dubai or Abu Dhabi. Applicants must hold a valid residency visa and Emirates ID, and their total debt burden including the requested mortgage cannot exceed the Central Bank's 50% debt-to-income threshold.

Financing parameters include loan amounts from AED 100,000 to AED 10 million, tenors up to 25 years, and loan-to-value ratios of up to 80% for first-time buyers acquiring properties under AED 5 million. Interest rates currently range from approximately 3.99% to 5.99% fixed, with promotional rates as low as 3.70% available for salary transfer customers.

Market Context and Timing

The launch arrives at a pivotal moment for UAE real estate. Dubai's property market achieved a record AED 917 billion in transactions across 270,000 deals in 2025, representing a 20% year-on-year increase. Expatriates now account for more than 75% of new mortgage applications, driven by long-term visa programmes and attractive rental yields that are incentivising property ownership over renting.

Central Bank of the UAE regulations effective from January 2026 now mandate digital-first mortgage application protocols, enabling 24-hour pre-approvals compared with the historical five-day standard. This regulatory shift, combined with UAE Pass integration for instant document verification, has created the infrastructure for services such as Mashreq's digital pre-approval.

Strategic Significance for Mashreq

Srinivasan Padmanabhan, Head of Mortgages at Mashreq, emphasised the importance of speed and transparency in modern mortgage experiences. He noted that pre-approval provides customers with early clarity on a realistic budget range before beginning their property search, addressing a core pain point for first-time buyers who previously faced uncertainty about their actual borrowing capacity until late in the purchase journey.

The digital pre-approval service builds on Mashreq's NEO digital banking platform, which has achieved more than 60% digital sales penetration in priority retail products. The bank reported customer loans and advances growth of 21% year-on-year to AED 208 billion in the first nine months of 2025, with residential mortgages identified as a strategically important growth sector.

Competitive Landscape and Future Development

Mashreq faces competition from both traditional lenders and emerging fintech platforms. Yubi Mortgage launched in December 2025 as a multi-lender comparison platform connecting borrowers to more than 25 lenders through a single interface. Proptech platform Holo offers automated document extraction and income verification services. Traditional banks including Emirates NBD, FAB, and RAKBANK maintain conventional mortgage processes with varying digital enhancements.

Mashreq has signalled plans to expand the service in phases throughout 2026, extending eligibility to UAE nationals, self-employed professionals, and non-resident foreign buyers. Future enhancements will include integration with Dubai Land Department property valuation systems, in-platform property selection, and direct loan disbursement connectivity, working toward an end-to-end digital mortgage journey.