If your initial 2-year or 3-year fixed interest rate period has expired, your home loan will automatically revert to higher variable margin rates. Refinancing (re-mortgaging) with another lender allows you to secure lower rates or access built-up equity for investments.
Central Bank Early Settlement Fee Caps
Under Central Bank of the UAE regulations, early settlement fees when exiting a mortgage are strictly capped at 1% of the remaining outstanding loan balance or AED 10,000 (whichever amount is lower). This makes switching lenders far more affordable than in previous years.
Unlocking Cash Through Equity Release
If your property value has appreciated significantly since purchase, banks allow you to borrow against built-up equity (up to 80% LTV for resident expats). Cash unlocked via equity release can fund business expansion, home renovations, or alternative investments.
Evaluate Refinancing Savings on AskTaskers
Find out if switching lenders will save you money. Post your current mortgage terms on AskTaskers to receive refinancing comparisons.
Calculate Refinance Savings
