There’s good news for borrowers looking to settle their mortgage early.
The UAE’s Central Bank has announced that lenders can no longer charge a 3 per cent early settlement fee.
Going forward, banks can only claim 1 per cent of the outstanding mortgage amount or AED 10,000, whichever is less.
Chris Schutrups, Managing Director of Mortgage Finder, explains why it’s good news for consumers.
Customers who have already paid a higher fee are eligible for a refund from their bank, within 30 days.
H.H. Sheikh Hamdan praises progress of Dubai Cashless Strategy
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has praised the progress of the Dubai Cashless Strategy, with cashless transactions now accounting for 90.1 per cent of all transactions in the Emirate.
DIEZ doubles size of Oraseya Capital fund to AED1 billion
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UAE ranked top worldwide in AI integration across key sectors
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The UAE Cabinet has approved a budget of AED 292.5 billion for 2027-2029, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, announced on Monday.
The UAE has strongly condemned continued Houthi attacks on King Khalid International Airport in Riyadh, which injured a number of civilians.
Etihad Airways and flydubai have cancelled more flights between the UAE and several cities in Saudi Arabia following the airport attack on King Khalid International Airport in Riyadh on Saturday.
