An Update from our Inhouse Mortgage Advisor

  • 21MAY
    An Update from our Inhouse Mortgage Advisor

An Update from our Inhouse Mortgage Advisor


Due to the cost of borrowing increasing, some of the banks have been pulling their 2 and 3 year fixed products and have re-launched their products with shorter 1 year fixed and variable rates with competitive interest rates.

As we're pegged to the US Dollar, volatility in the US causes our rate to fluctuate against other major currencies. This also can impact the Interbank rate.

6 months EIBOR (Emirates Interbank Offered Rate) is currently sitting just under 1.7%. Though do not fear we can still obtain mortgages starting from 2.99%.

If you are thinking about taking a mortgage here in the UAE, the best time to act is now before the rates increase further. Here in the UAE, there is a wide range of products that you can choose from. With fixed mortgage rates from 1 to 5 years and even products where you can fix the payment for the full term of the mortgage. With all these options to look at why not get in touch with one of our Qualified Mortgage Advisors who can help you secure the best mortgage rate for your individual needs.

MENA Mortgage Services - Your Personal Advisors

[email protected]

 
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21st May 2017

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