Advice from our Mortgage Broker

  • 25JAN
    Advice from our Mortgage Broker

Advice from our Mortgage Broker

Over Christmas Interest Rates in the US went up for the first time in 8 years and with the dirham closely pegged to the dollar, rates in Dubai are predicted to rise in 2016.  Many in the know felt this was unsurprising really and with rates being as low as theyve ever been in the UAE for the last few years.  Indeed several lenders including NBD (largest bank in the UAE) have already increased their rates with many others predicted to do the same.
From a buyers perspective this means that the property they viewed before Christmas may be more expensive in real terms to them with their monthly mortgage payment increasing.  If a mortgage approval has already been secured then wed strongly advise them to speak to their Mortgage Broker to see if this rate hike affects them.  Nobody really knows what 2016/2017 has in store (although further increases are predicted) in terms of interest rate changes but MENA Mortgage Services certainly suggest speaking to an Independent broker with access to all lenders in the UAE. 
That way a clients attitude to risk may be assessed and most suitable mortgage product obtained.  The UAE mortgage market has matured over the last few years and longer term fixed products are now available, which would protect any buyers from further interest rate hikes.  There has never been a more important time to speak to an experienced Mortgage Broker.


Please contact Exclusive Links for further information or to connect to our Mortgage Broker or email [email protected]

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25th January 2016