U.A.E Central Bank reduces early Settlement Home Mortgage Fees

U.A.E Central Bank reduces early Settlement Home Mortgage Fees

U.A.E government has been taking positive steps towards ease of doing business and encouraging investments in the U.A.E. Be it tactical decisions like reducing license fees to long term strategic moves in issuing Golden Visa to investors to encourage investment.

In line with the same, to give a positive impetus to the economy, the U.A.E central bank has decides to scrap the 3 % early settlement home mortgage fees, which customers had to pay to banks. They have replaced the same with either 1 % or maximum cap of Aed 10,000 whichever is lower. This is great news, as it comes at a time when the UBS global report on real estate confirms that Dubai properties are fair values to buy right now. Also this decision has been taken by an inclusive inputs from investors and industry. It reaffirms the positive intent of U.A.E government towards the real estate sector.

Hence now investors and end users who are purchasing units can calculate the fixed exit fees on their real estate mortgage investment. Moreover, now it allows all mortgage homeowners to upgrade or exit at a time convenient to them due to the lower exit fees applicable.

So all we suggest is that buying your dream home in Dubai has just got a double impetus, fair value prices (UBS report) and lower exit fees. So dream big, that is what Dubai personifies.

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