There’s good news for borrowers looking to settle their mortgage early.
The UAE’s Central Bank has announced that lenders can no longer charge a 3 per cent early settlement fee.
Going forward, banks can only claim 1 per cent of the outstanding mortgage amount or AED 10,000, whichever is less.
Chris Schutrups, Managing Director of Mortgage Finder, explains why it’s good news for consumers.
Customers who have already paid a higher fee are eligible for a refund from their bank, within 30 days.
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DTC signs five-year renewal to increase Dubai's taxi fleet by 7,700
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DIP Holding begins IPO subscription period with offer price range
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UAE capital markets reflect strong performance in first 9 months of 2026
The UAE financial markets have recorded strong performance during the first nine months of 2026, with number of companies licensed by Capital Market Authority rising 43 per cent and the combined market capitalisation of ADX and DFM touching AED 3.7 trillion.
UAE and Benin exchange CEPA in Abu Dhabi
The UAE and Benin exchanged a Comprehensive Economic Partnership Agreement on Sunday aimed at significantly expanding trade and investment between the two countries.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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