Best Mortgage Lawyers in Riyadh

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Sahal Law Firm

Sahal Law Firm

15 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 2015
53 people in their team
English
Arabic
Sahal Law Firm - Riyadh, Saudi ArabiaSahal Law Firm is a premier Saudi law firm in Riyadh providing bilingual (Arabic / English) counsel to local and international clients. we deliver end-to-end solutions in mergers & acquisitions (M&A), SAMA fintech licensing, corporate and commercial law,...
KM Lawfirm
Riyadh, Saudi Arabia

Founded in 2020
1 people in their team
Arabic
English
KM Law Firm is a premier legal practice distinguished by its unwavering commitment to excellence, integrity, and client-centered service. With a strong reputation for delivering strategic, results-driven legal solutions, our firm serves a diverse clientele that ranges from individuals and...
FAL LAW FIRM
Riyadh, Saudi Arabia

Founded in 2014
26 people in their team
Arabic
English
For over a decade, 2014 / H 1436 At FAL Law Firm, we have been building trust and achieving success since we have been a symbol of leadership and excellence in providing legal and advisory services in the Kingdom of Saudi Arabia. In every legal matter we undertake, our goal is to be the "Good Omen"...
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Dr. Ali Al-Masardi Law Firm
Riyadh, Saudi Arabia

Founded in 2014
20 people in their team
Arabic
English
Comprehensive Legal and Sharia Services by Dr. Ali Al-Masardi Law FirmAt Dr. Ali Fahd Al-Masardi Lawyer Group, we are committed to providing comprehensive legal and Sharia services to meet the diverse needs of our clients. Established to offer a seamless experience, our firm acts as a one-stop...
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Trabulsi & Co.
Riyadh, Saudi Arabia

Founded in 2015
12 people in their team
Arabic
English
Trabulsi & Co. is a KSA (Riyadh-Jeddah) based Law Firm providing high-quality services that rise to international standards while maintaining our national values. Specializing in litigation, corporate advisory, and legal project management we provide services directed to both local and...
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Dr. Mohammed Alhashem law firm
Riyadh, Saudi Arabia

Founded in 2022
9 people in their team
Arabic
English
Top-Tier Legal Services in Saudi Arabia | Dr. Mohammed Alhashem Law FirmLeading Legal Excellence in Saudi ArabiaAt Dr. Mohammed Alhashem Law Firm, we are committed to delivering world-class legal services rooted in deep local insight and global best practices. Based in Riyadh, Saudi Arabia, our...
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MSY Law Firm
Riyadh, Saudi Arabia

English
Muqrin Saad Alyabisi Law Firm (MSY Law Firm) is a prominent legal practice in the Kingdom of Saudi Arabia, offering comprehensive legal services to both public and private sectors, as well as individuals. The firm specializes in various legal disciplines, including company establishment, legal...

English
Almutairi Law Firm, established in Al-Khobar, Saudi Arabia, is a distinguished legal practice led by Mohammad Hosain Al-Mutairi, a certified lawyer and legal advisor accredited by the Ministry of Justice and a member of the International Court of Arbitration. Mr. Al-Mutairi holds a Master's degree...
RASSEEN LAW FIRM
Riyadh, Saudi Arabia

Founded in 2020
20 people in their team
Arabic
English
A Saudi company using the latest technologies in the world of law, in line with the Kingdom's vision 2030. Its core is the aware and educated youth who graduated of the most advanced programs in the field of law and consultations.The company obtained an approval to legal practice and provide legal...
Abdulaziz Alajlan & Partners
Riyadh, Saudi Arabia

Founded in 1998
50 people in their team
Arabic
English
Abdulaziz Alajlan & Partners is a Saudi Arabian law firm established in July 1998, and is staffed to provide expertise to clients on a wide range of legal matters including:Corporate and commercial advice including mergers and acquisitions, foreign investment, capital markets, competition,...
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About Mortgage Law in Riyadh, Saudi Arabia

In Riyadh, Saudi Arabia, mortgage laws are dictated by the Saudi Arabian Monetary Authority (SAMA) through the Real Estate Financing Law. The law aims to increase home ownership amongst Saudi citizens by regulating the financing, mortgage, and monitoring of the housing sector. It allows for conventional as well as Islamic, or Shariah-compliant, mortgages which have gained popularity due to their interest-free nature according to Islamic legal principles.

Why You May Need a Lawyer

Mortgage-related dealings often involve complex legal terms and contracts. Lawyers specializing in this area can help interpret these terms, ensuring you are fully aware of your rights and obligations. You may need a lawyer during the purchase of a property, particularly if you need to apply for a mortgage. Additionally, you might also need legal help while remortgaging your property for a better interest rate, or if you face issues with mortgage payments and risk foreclosure.

Local Laws Overview

Saudi Arabian mortgage laws revolve around Islamic financing principles. The mortgagee has the right to reclaim their money in case of non-payment. The mortgage lender is also required by law to be licensed by SAMA. All mortgage contracts are required to be officially registered and acknowledged. The borrower must also be a Saudi national and over 18 years of age.

Frequently Asked Questions

1. Can a non-Saudi resident apply for a mortgage in Riyadh?

No, only Saudi nationals and non-national residents with a valid Iqama (Saudi residence permit) can apply for a mortgage in Riyadh under specific conditions.

2. What happens if I default on my mortgage payments?

In case of default, the mortgagee has the right to sell the property according to Saudi Arabian law. However, you have the right to know the process and the lender is obliged to notify you in advance.

3. What types of mortgages are available in Riyadh?

Both conventional and Islamic mortgages are available. The latter is Shariah-compliant and is most commonly used in accordance with Islamic principles.

4. What happens to the property once the mortgage is paid off?

Once the mortgage is paid off, the property deed transfers to the borrower and the lender releases the mortgage lien.

5. What is the usual term for a mortgage in Riyadh?

The term varies, but it typically ranges from 15 to 30 years, depending on the agreement between the borrower and the lender.

Additional Resources

The Saudi Arabian Monetary Authority (SAMA) provides an array of resources concerning mortgage regulations. Moreover, the Ministry of Housing might offer valuable information regarding recent changes in the housing sector. Further, the Saudi Real Estate Institute can offer educational resources and insights about the mortgage market.

Next Steps

If you require legal assistance with mortgages in Riyadh, try reaching out to local law firms specializing in real estate or financial law. Consult with them regarding your situation to understand the legal implications. Also, consider doing research using resources provided by the Saudi Arabian Monetary Authority and other related organizations.

Lawzana helps you find the best lawyers and law firms in Riyadh through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Riyadh, Saudi Arabia - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.