Abu Dhabi Finance has reached an agreement with Abu Dhabi Commercial Bank (ADCB), one of the UAE’s leading banks, for the sale and transfer of its portfolio of residential and commercial mortgages and vehicle/equipment loans.

Following completion of the sale, which is expected to take place during the first half of 2021 (the "effective date") ADCB will be welcoming you as a mortgage customer, with the same Terms and Conditions set out in your Mortgage Agreement and other supporting legal documents.

Starting on the effective date, all agreements with ADF in respect of your mortgage (and related financing arrangements), including your Loan Agreement and Mortgage Contracts, will transfer from ADF to ADCB, such that all your agreements with ADF will become agreements with ADCB, including all rights and obligations thereunder. Payments under your mortgage will be due to ADCB, and the bank registered in respect of the mortgage over your property will become ADCB.

Should you require additional information, please reach out to ADF's team via 800 ADF (233) or transfer@adf.ae.

ADCB is one of the UAE’s leading banks, with over 1 million customers. The Bank has a well-established and specialised mortgage team as well as a wide range of market-leading products and services to support all your banking needs. For further information, please visit adcb.com.

The sale of your loan and mortgage to ADCB is expected to be completed during the first half of 2021, subject to approval from the Central Bank of the UAE and other relevant authorities. Following these approvals, we will confirm the date of completion of the sale (the "effective date") and provide you with full information on the transition to ADCB.

Yes, following the transfer to ADCB, the Terms and Conditions applicable to your mortgage, including those related to the interest rate, will remain the same. Any future changes to your Terms and Conditions will be communicated to you in advance.

Following the transfer to ADCB, all fees and charges will be in line with, or lower than, those applied previously by ADF.

Yes, in order to ensure a smooth transition, "Know Your Client" information held by Abu Dhabi Finance relating to your loan and mortgage, including personal data, will be shared with ADCB prior to the “effective date” (date of the completion of the sale to ADCB).

If you have any queries on the use and sharing of your information, please reach out to ADF's team via 800 ADF (233) or transfer@adf.ae by no later than 28^th April 2021 and our team will be happy to assist you.

We are working to make the transition as smooth and seamless as possible. If any action is required on your part, we will inform you well in advance.

Yes, ADCB will continue to make payments to your developer/contractor, as per your Sale and Purchase Agreement (SPA).

Following the transfer of your mortgage, we would recommend that you have a bank account with ADCB to enjoy the benefits of convenient banking and a wide range of products and services.

You will not be required to transfer your salary to ADCB, and your existing Terms and Conditions for your mortgage will remain the same. However, if you wish to have your salary transferred to ADCB and benefit from its wide range of products and services, the Bank will be pleased to assist you in setting up an account.

Yes, the monthly payment date will change following the transfer of your mortgage to ADCB. Further details will be specified in your welcome letter from ADCB.

We will be in contact with you in due course with further details on the transition of your insurance arrangements as your mortgage transfers to ADCB.

If you have an individual policy assigned to ADF, the policy will need to be re-assigned to ADCB. We will be in contact with you to explain the process in due course.

If you have any queries or concerns on the transfer of your mortgage to ADCB, please contact transfer@adf.ae or 800 ADF (233) by no later than 28^th April 2021 and ADF's team will be happy to assist you.

It is important to note that the transfer of your mortgage to ADCB will be a smooth and seamless process, with no changes to the Terms and Conditions of your existing mortgage. As an ADCB customer, you will benefit from the Bank’s wide range of products and services.

Additionally, you will not incur any charges if you choose to repay the full amount on your mortgage or transfer to another bank within a 180-day period from your initial notification of the transaction between ADF and ADCB.

If you decide not to transfer your mortgage to ADCB, you would need to either repay the outstanding amount on your mortgage in full, or arrange a transfer to another mortgage provider by 31^st May 2021.

For further questions, please reach out to ADF's team via 800 ADF (233) or transfer@adf.ae.

No, as an existing customer of ADCB, there will be no impact on your banking relationship. Your mortgage being transferred from ADF will be regarded as a separate loan account as a part of your overall relationship with ADCB.

When your mortgage transfers from ADF to ADCB, the most convenient payment option is through standing instructions from your ADCB account, which can be setup via ADCB Personal Internet Banking or at an ADCB branch.

No, if you have a direct debit set up from your ADCB account to make payments on your ADF mortgage, your account will continue to be debited following the transfer of your mortgage to ADCB.

Yes, details of the transferred mortgage will be available on ADCB’s digital platforms.