If a fixed period is ending, your circumstances have changed or you simply want to check your position, we help you review your current mortgage, understand the full cost of moving it and decide whether a refinance or buyout is worth exploring.
We help you read your current terms. Book a review.
Refinancing and buyouts, explained
Refinancing means replacing your current mortgage with a new arrangement, with your existing lender or a different one. A buyout usually means a new lender settles your current mortgage and the loan moves across. Either can make sense, but only when the full cost and the terms work for you.
A new arrangement for the same property, with your current lender or another.
A new lender settles your existing mortgage and takes the loan over, if it approves the application.
Settling one mortgage and setting up another can each involve fees.
Rates, terms and approval are always decided by the lender.
Some reasons are about cost, others about flexibility or a change in circumstances. Whatever the reason, the numbers need to work.
When a fixed or introductory rate ends, the rate that follows may be different. A review shows whether to stay or look at alternatives.
A different term or structure may change the monthly payment, although a longer term can increase the total cost.
A new job, a change in income or new family plans can make a different arrangement more suitable.
You may want features, such as part-payments or a different rate type, that your current mortgage does not offer.
Before comparing anything new, it helps to understand exactly what you have today. We go through these points with you.
Whether your rate is fixed or variable, and what happens when any fixed period ends.
How much remains and how many years are left, which shape every alternative.
What your agreement says about settling early, including any fees or notice periods.
A new lender usually values the property, and the result can affect what may be offered.
Life and property cover tied to the current mortgage, and what changes if it moves.
Loans and cards that a new lender will consider alongside the mortgage.
We review your terms with you, but your mortgage agreement and your lender have the final word. Ask your lender to confirm any figures in writing.
A lower rate on its own does not mean a saving. What matters is the overall cost of moving compared with staying where you are.
Staying
Moving, if suitable
We set the costs of moving against the difference in repayments over the period that matters to you.
Whether a switch could make sense often depends on when any fixed period ends.
Approval, rates and terms are decided by the lender, not by ASK.
Illustrative comparison only. Whether moving makes sense depends on your terms, the costs involved and the offer a lender makes, if any.
Each lender sets its own criteria. Having a mortgage with one lender does not mean another lender will offer the same terms, or any terms.
Lenders may assess salaried and self-employed income differently.
Its type, age and value can affect what a lender is willing to finance.
Other loans and cards are considered alongside the mortgage.
How existing credit has been managed, including the current mortgage.
A careful review comes first. You decide whether to go ahead only once the costs and terms are clear.
Your mortgage agreement, a recent statement and any settlement information your lender can provide.
We look at your balance, remaining term, settlement conditions and what you pay today.
If moving could make sense, we compare realistic options on monthly payment, total cost and fees.
If you choose to go ahead, we help you prepare the application and keep you updated until the lender decides.
Honest answers, including when moving may not help.
No. ASK Financial Services helps you understand your options and prepare your application. Rates, terms and approval are decided by the bank or finance provider.
Not necessarily. It depends on your current terms, the costs of moving and what a lender offers after assessing your application. We explain the trade-offs before you decide.
Usually a new lender settles your existing mortgage and the loan moves across. This depends on the new lender approving your application and valuing the property.
Often, yes. Early settlement, valuation, processing and registration fees can apply. We help you list them before you decide.
Other ways we can help with property finance in the UAE.
Our main property finance service, for buyers, movers, investors and owners.
Planning and preparing finance to buy a home in the UAE.
Considerations for buyers who live outside the UAE.
Estimate a monthly repayment in a few seconds.
A first conversation helps you see whether refinancing or a buyout is worth exploring for you.
