What does a mortgage mean in the UAE?

A mortgage is a loan offered by banks or financial institutions to assist individuals in buying property. The loan is secured by the property itself, serving as collateral for the borrowed funds.
Typically, borrowers are required to make a down payment, which can differ depending on the property's value and the borrower's nationality. Mortgages in the UAE are available for residential, commercial, and investment properties, and they come with specific terms and conditions set by the lender.