Mortgage Refinancing in Dubai
Switch your Dubai mortgage to a better rate and save thousands — Mortigo compares available participating lenders and handles everything for free.
Mortgage refinancing in Dubai — switching from your current lender to one offering better rates or terms — has become increasingly popular as competition between UAE banks intensifies. Whether your current fixed rate has expired, you want to access equity, or you simply want a better deal, Mortigo compares the entire UAE market to find your optimal refinancing solution. Banks actively compete for mortgage buyouts by offering cashback, rate discounts, and fee waivers.Early-settlement charges are subject to applicable CBUAE requirements and the lender's current terms; confirm them before proceeding. In most cases, the savings quickly outweigh these one-time costs.
Key Facts
| Average annual saving | AED 10,000–30,000+ |
| New lender processing fee | Typically 1% (sometimes waived) |
| Time to complete | 4–8 weeks |
| Maximum LTV | 75% for refinancing |
Key Points
- Refinancing saves most Dubai homeowners AED 10,000–30,000+ per year on interest costs.
- Banks actively offer cash incentives and fee waivers to win mortgage buyouts.
- Early-settlement charges are subject to applicable CBUAE requirements and the lender's current terms; confirm them before proceeding.
- Best time to refinance: when your fixed rate period ends and you move to a higher variable rate.
- Mortigo submits refinancing applications to multiple banks simultaneously to maximise competition.
- Cash-out refinancing can be combined with a rate switch to release equity and reduce your rate simultaneously.
Frequently Asked Questions
How much can I save by refinancing my Dubai mortgage?
Savings depend on your outstanding balance and the rate difference. For a AED 2M mortgage, switching from 4.5% to 3.5% saves approximately AED 20,000 per year. Use Mortigo's refinancing calculator for your exact figures.
What is the early settlement fee in Dubai?
Early-settlement charges are subject to applicable CBUAE requirements and the lender's current terms; confirm them before proceeding. On a AED 2M mortgage, the maximum fee is AED 10,000 (since 1% = AED 20,000, the cap applies).
When is the best time to refinance my Dubai mortgage?
The best time is when your current fixed rate period ends and you're moving to a higher variable rate. However, if you have been on a variable rate for some time, it may still be worth switching — Mortigo can calculate your break-even point.
Can I refinance and take cash out at the same time in Dubai?
Yes. Cash-out refinancing combines a rate switch with equity release — your new lender provides a mortgage larger than your current outstanding balance, and you receive the difference as cash. Maximum LTV is 65% for cash-out refinancing.
Use Mortigo's Smart Refinancing tool to model an indicative repayment scenario, then ask an advisor to review participating lender options and the costs of switching.
Check your eligibility | All mortgage guides | Compare participating lenders
Overview
Mortgage refinancing in Dubai — switching from your current lender to one offering better rates or terms — has become increasingly popular as competition between UAE banks intensifies. Whether your current fixed rate has expired, you want to access equity, or you simply want a better deal, Mortigo compares the entire UAE market to find your optimal refinancing solution. Banks actively compete for mortgage buyouts by offering cashback, rate discounts, and fee waivers.Early-settlement charges are subject to applicable CBUAE requirements and the lender's current terms; confirm them before proceeding. In most cases, the savings quickly outweigh these one-time costs.
Key Points
Frequently Asked Questions
How much can I save by refinancing my Dubai mortgage?
Savings depend on your outstanding balance and the rate difference. For a AED 2M mortgage, switching from 4.5% to 3.5% saves approximately AED 20,000 per year. Use Mortigo's refinancing calculator for your exact figures.
What is the early settlement fee in Dubai?
Early-settlement charges are subject to applicable CBUAE requirements and the lender's current terms; confirm them before proceeding. On a AED 2M mortgage, the maximum fee is AED 10,000 (since 1% = AED 20,000, the cap applies).
When is the best time to refinance my Dubai mortgage?
The best time is when your current fixed rate period ends and you're moving to a higher variable rate. However, if you have been on a variable rate for some time, it may still be worth switching — Mortigo can calculate your break-even point.
Can I refinance and take cash out at the same time in Dubai?
Yes. Cash-out refinancing combines a rate switch with equity release — your new lender provides a mortgage larger than your current outstanding balance, and you receive the difference as cash. Maximum LTV is 65% for cash-out refinancing.
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