Optimising Your Existing Mortgage
Remortgage & Refinancing
Refinancing strategies for existing UAE mortgage holders rate renegotiation, equity release, lender switching and debt consolidation for enhanced financial efficiency.
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Key Parameters
What You Need to Know
UAE mortgage rates are variable (linked to EIBOR) or fixed for initial periods of 1–5 years. Many borrowers remortgage to secure a new fixed rate.
Early settlement fees of up to 1% of outstanding balance apply on most UAE mortgages model this against the interest saving before switching.
Equity release through remortgaging can fund renovation, investment, or other capital requirements at potentially lower rates than personal lending.
Some UAE banks offer cashback on remortgage product switches, partially offsetting early settlement and re-registration fees.
Eligibility Criteria
Standard Qualifying Requirements
- 1
Existing UAE mortgage on a freehold or leasehold property
- 2
Minimum equity of 20% in the property
- 3
Current employment status and income confirmation
- 4
No outstanding arrears on existing mortgage
- 5
Property valuation within acceptable LTV parameters
Expert Strategy
MRK’s Recommended Approach
Remortgage activity in Dubai is highest when the fixed rate period of existing mortgages expires. With EIBOR-linked variable products, rate reductions create remortgage windows. MRK’s mortgage advisory team monitors the rate environment and will alert clients when a compelling remortgage opportunity arises. Early settlement calculations should always factor in transfer and re-registration fees.
Access Bespoke Financing Intelligence
MRK’s mortgage advisory team provides independent financing guidance across all major UAE lenders identifying the most competitive products for your specific acquisition scenario.