Could you benefit by refinancing?
Dubai resident Nilesh Jain switched his mortgage provider last year after realising he was paying 2.5 per cent more than the prevalent market rate for home loans in the UAE. He was paying a hefty 6 per cent interest rate to Dubai Islamic Bank for his mortgage, compared with the average market rate of about 3.5 per cent in 2020.
The Indian expat had originally taken out a Dh2.25 million mortgage for his Arabian Ranches villa from Tamweel in 2007. In … Read more ›