Tips for Refinancing and Lowering Your Mortgage Payments in Dubai

If you’ve had your mortgage for a few years, there’s a good chance you’re paying more than you need to. Refinancing could help you reduce your monthly payments and free up cash flow. Here’s how:

1. Check current market rates
   If rates have dropped since you locked yours, refinancing could lower your payments immediately.

2. Calculate your break-even point
   Make sure the savings outweigh the fees. Divide closing costs by monthly savings to see how long it takes to benefit.

3. Consider shortening your term
   Switching from a 25-year mortgage to 15 years can save a lot of interest, even if payments are a bit higher.

4. Think about recasting
   Making a lump-sum payment and asking the bank to recast your loan can lower your monthly payment without changing your interest rate.

5. Review insurance and fees
   Sometimes, savings come from reducing bundled insurance or negotiating lower service charges.

👉 Wondering if refinancing is right for your property in Dubai? Book a free consultation with The UAE Mortgages—we’ll run the numbers and show you clear options to save.