Can I settle my UAE mortgage early without penalty?

Waivers, partial-prepayment allowances and charges vary by product and lender. Confirm the current contractual terms and obtain a written settlement figure before making a payment.

Is it worth settling my UAE mortgage early?

Whether early settlement is beneficial depends on the lender's settlement figure, future payments, fees, your liquidity and alternatives. Consider qualified independent advice where appropriate.

What happens to my mortgage if I sell my property before the end of the term?

The outstanding mortgage normally needs to be dealt with as part of a mortgaged-property sale. Your lender, buyer, trustee and relevant land authority will confirm the required documents, timing and charges. Any settlement charge is governed by the applicable requirements and mortgage contract.

UAE Mortgage Early Settlement Calculator

Thinking about settling your UAE mortgage early? Use Mortigo's calculator to estimate a possible charge before you decide to settle, refinance or sell. It is not a lender settlement figure.

How UAE Early Settlement Fees Are Calculated

The estimate is based on the tool's stated assumptions. The applicable charge is determined by:

the applicable Central Bank requirements;
your mortgage product and settlement date; and
the lender's written settlement figure, including any applicable VAT.

An early-settlement or partial-prepayment charge may apply. The applicable Central Bank requirements, product terms, any monetary cap and VAT treatment depend on the transaction and lender documentation; obtain a written settlement figure from your lender before deciding to sell, refinance or prepay.

When Does Early Settlement Make Financial Sense?

Compare the lender's written settlement figure with the remaining scheduled payments, refinancing costs, liquidity needs and alternatives. The result depends on your individual mortgage and timing.

Considering refinancing instead of settling? Use our Refinancing Calculator to compare refinancing savings against the settlement cost.

Mortigo can help you understand the calculator assumptions, but your lender controls the settlement figure. WhatsApp +971 50 729 7196.