Refinancing & buyout
Understand whether your mortgage still fits.
When a fixed period ends, the follow-on rate can change your monthly payment. A review shows whether staying, switching or a buyout makes sense.
Mortgage review
Is it right for you?
Who it suits
Fixed period ending
Your fixed rate is ending and you want to know what comes next.
Terms no longer fit
Your circumstances, income or plans have changed since you took the loan.
Considering a buyout
Another lender may offer better overall terms for your remaining balance.
Step by step
How the financing works
- 01
Review your current mortgage
Remaining balance, term, current and follow-on rate, early-settlement terms and fees.
- 02
Compare options
Staying with your lender, a rate switch, or a buyout to a new lender — on total cost, not headline rate.
- 03
Check break-even timing
Switching has costs. We estimate how long it takes for lower payments to cover them.
- 04
Coordinate the switch
If a buyout makes sense, we manage the application, liability letters and transfer between lenders.
Worked example
Illustrative scenario
All figures below are illustrative assumptions, not quotes or current rates. Your numbers will differ.
Break-even = switching costs ÷ monthly saving. It ignores changes in rates during the term, early-settlement fees from your current lender and insurance changes, which a full review includes.
- Remaining balance
- AED 1,200,000
- Remaining term
- 20 years
- Monthly payment at an assumed follow-on rate of 6.25%
- AED 8,771
- Monthly payment at an assumed new rate of 4.25%
- AED 7,431
- Difference per month
- AED 1,340
- Assumed switching costs (fees, valuation, registration)
- AED 20,000
- Approximate break-even
- about 15 months
Before you apply
What to prepare
What lenders look at, what it costs, and the documents you’ll usually need.
What lenders consider
- Your remaining balance and term
- The property’s current valuation
- Your income and existing commitments today
- Early-settlement terms in your current agreement
- Your repayment history
Costs to plan for
- Early-settlement fee from your current lender, if any
- New lender arrangement and valuation fees
- Mortgage release and new registration fees
- Insurance under the new lender’s terms
Documents
- Current mortgage statement and liability letter
- Passport, visa and Emirates ID
- Up-to-date income documents
- Property title deed
Exact requirements vary by lender.
Our role
How Retention helps
Read the small print
We look beyond the new rate at fixed periods, follow-on terms and fees.
Be honest about the numbers
If staying put is the better option, we’ll tell you.
Handle the switch
Liability letters, release and registration are coordinated for you.
Your advisors
Talk it through with the people who’ll handle it.
A Retention advisor guides you from the first comparison through to completion — and is there when you need a review.
A few months before your fixed period ends is a good time, so there’s room to compare without rushing.
A new lender pays off your current mortgage and you continue with the new lender’s terms.
No. Fees and early-settlement charges can outweigh a lower rate, especially if little time remains on the loan.
Understand whether your mortgage still fits.
Tell us what you’re planning. An advisor will help you understand the next step.