Our Dubai Property Experts talk more about mortgages

  • 07FEB

Our Dubai Property Experts talk more about mortgages


Could you save money by re-mortgaging?

Re-mortgaging need not be a hassle. In fact, it's something we should all think of regularly to make sure we're still on the best mortgage deal. With many UAE homeowners having taken out mortgages for their properties when the interest rates were at their peak, now would be the best time to consider searching for a new deal. With interest rates in the US rising in December 2015, now would be the best time to get you a better deal before interest rates in the UAE rise.
If your current mortgage deal is about to come to an end, it's important to start shopping around for a new offer before you get transferred onto your lender's variable rate - this could be higher than your current rate.

Why not let our preferred partners MENA Mortgage Services, Advisers do some of the hard work for you, and make sure you've got the very best mortgage for you.


How MENA Mortgage Services Advisers can help

At MENA Mortgage Services experts work hard to find a re-mortgage deal that's right for you.

It's especially important to seek advice when you are looking for a new mortgage product as there are many banks out the with different rates, fees and criteria, but talking to one Mena's impartial advisers can give you the reassurance that you're not paying a penny more than you need to.

The expert advisers will undertake a comprehensive search of the market - looking at many different products - to ensure they find what suits your needs. See what you could save with a simple chat today.


When to re-mortgage?

Re-mortgaging can be a great way to save money and is something you should consider regularly to make sure you're on the best mortgage deal.

There is no set time when a person should re-mortgage as it will all depend on your personal circumstances and the reason why you are thinking of re-mortgaging. But it is especially worth thinking about a re-mortgage when you are getting near the end of a fixed rate deal or now if you are on your lender's standard variable rate.

Why re-mortgage?

There is a range of reasons why you might want to move onto a new mortgage deal, they include:

  • To save money
  • To move onto a fixed rate deal so you can be certain of what your repayments will be
  • To release equity in your home if it has gone up in value
  • To fund home improvements
  • To fund a down payment for a new property
  • To move onto a mortgage that better suits your current circumstances e.g. longer/shorter term or greater flexibility with payments
For a re-mortgage to be worthwhile both the cost and the product features of the new mortgage need to be right for you.


Cost of switching mortgage

The first thing MENA Mortgage Services do is work out how much switching will cost you by comparing what your current mortgage costs and what a new deal would cost you. Mena compare typical re-mortgage rates include the cost of any exit penalties that may apply to your current deal and any arrangement fees to set-up the new mortgage before making any recommendations.


Getting mortgage help

If you want to find the right deal for you, it is worth getting impartial, expert advice. Mena advisers can help you to find mortgages that will save you money and will match your circumstances.

Contact Exclusive Links Real Estate to speak to one of our Mortgage Experts for more information about working out the costs and savings of re-mortgaging.
For other related blog post please visit http://www.exclusive-links.com/blog/advice-from-our-mortgage-broker/


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7th February 2016