The Abu Dhabi Commercial Bank (ADCB) has come together with UAE’s leading property portal Bayut to initiate ADCB Dream Home Platform which is designed to offer consumers flexibility, speed, security and simplicity for the pre-approval process for home loans.
With this deal, the partners aim to bring a unified digital platform to help the prospective buyers on Bayut to avail access to ADCB’s instant pre-approvals and other tools for a smooth home buying experience.
The partnership was formulated to strengthen Bayut’s huge list of residential properties coupled with ADCB’s cutting edge technology solutions to offer fast, secure and efficient banking services for home buyers and investors.
ADCB Dream Home Platform is a first of its kind initiative in the region that enables customers to conduct extensive research on the properties they are interested in, explore guide sections, financial information related to home loans and apply for an instant pre-approval.
“ADCB Dream Home Platform fundamentally aims to bring a simplified and convenient digital process that can be completed with minimum contact, from the comfort of the home. Currently available in some mature financial markets, we are proud to bring the first digital mortgage ecosystem to the UAE,” Deepak Rochlani, head of retail banking at ADCB stated.
Commenting on the partnership Mr. Anthony Blackford, Bayut’s director of Advertising stated that, “this new initiative will help interested buyers and investors to find everything they need in one dedicated platform, the property listings, detailed guides, market data about the neighborhoods and now with this partnership with ADCB, an instant pre-approval process so buyers are aware of the financial flexibility they can work with.”
How it works
Once a prospective buyer submits the application through the ADCB Dream Home platform, the decision for loan eligibility is made in real-time within a few minutes. Such a system would reduce the time taken for pre-approval, which in conventional methods could take a few days.
After getting approval, ADCB’s relationship managers will communicate with customers and guide them through the next phases of planning, decision making, purchasing and property registration.