{"id":2636,"date":"2022-01-24T20:47:31","date_gmt":"2022-01-24T20:47:31","guid":{"rendered":"https:\/\/www.compare4benefit.com\/blog\/?p=2636"},"modified":"2024-05-11T09:14:45","modified_gmt":"2024-05-11T09:14:45","slug":"uaes-property-buyers-will-have-some-adjusting-to-do-on-their-mortgage-bills-in-2022","status":"publish","type":"post","link":"https:\/\/www.compare4benefit.com\/blog\/uaes-property-buyers-will-have-some-adjusting-to-do-on-their-mortgage-bills-in-2022\/","title":{"rendered":"UAE&#8217;s property buyers will have some adjusting to do on their mortgage bills in 2023"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><div style=\"display:none\" class=\"fm-form-container fm-theme15\"><div id=\"fm-pages9\" class=\"fm-pages wdform_page_navigation \" show_title=\"\" show_numbers=\"1\" type=\"none\"><\/div><form name=\"form9\" action=\"\/blog\/wp-json\/wp\/v2\/posts\/2636\" method=\"post\" id=\"form9\" class=\"fm-form form9  \" 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class=\"fm-header-text\">          <div class=\"fm-header-title\">            Request a Call Back          <\/div>          <div class=\"fm-header-description\">            <b class=\"wiz_hdr_txt\" style=\"font-size: 20px;font-weight: bold;color: #337799;font-family: sans-serif;cursor: default;line-height: 30px;padding: 0px 5px;margin-top: 0px;margin-bottom: 0px\" data-lines=\"2\">Find The Best Mortgage, In Just A Few Simple Steps!<\/b>          <\/div>        <\/div><\/div><\/div><div class=\"wdform-page-and-images fm-form-builder\"><div id=\"9form_view1\" class=\"wdform_page\" page_title=\"Untitled page\" next_title=\"Next\" next_type=\"text\" next_class=\"wdform-page-button\" next_checkable=\"true\" previous_title=\"Previous\" previous_type=\"text\" previous_class=\"wdform-page-button\" previous_checkable=\"false\"><div class=\"wdform_section fm-col-1\"><div class=\"wdform_column\"><div wdid=\"6\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_text\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_text\" ><div class=\"wdform-label-section wd-width-30  wd-flex-row wd-align-items-center\">    <label  for=\"wdform_6_element9\" class=\"wdform-label\">Your Name<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-70\" ><input type=\"text\"                           class=\"wd-width-100\"                           id=\"wdform_6_element9\"                           name=\"wdform_6_element9\"                           value=\"\"                           data-value=\"\"                           title=\"\"                           placeholder=\"\"                                                       attribute=value \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"12\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_country\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_country\" ><div class=\"wdform-label-section wd-width-30 wdform_select wd-flex-row\">    <label  for=\"wdform_12_element9\" class=\"wdform-label\">Nationality<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex wdform_select wd-flex-row wd-width-70\" ><select class=\"wd-width-100\" id=\"wdform_12_element9\" name=\"wdform_12_element9\" ><option value=\"\" ><\/option><option value=\"Afghanistan\" >Afghanistan<\/option><option value=\"Albania\" >Albania<\/option><option value=\"Algeria\" >Algeria<\/option><option value=\"Andorra\" >Andorra<\/option><option value=\"Angola\" >Angola<\/option><option value=\"Antigua and Barbuda\" >Antigua and Barbuda<\/option><option value=\"Argentina\" >Argentina<\/option><option value=\"Armenia\" >Armenia<\/option><option value=\"Australia\" >Australia<\/option><option value=\"Austria\" >Austria<\/option><option value=\"Azerbaijan\" >Azerbaijan<\/option><option value=\"Bahamas\" >Bahamas<\/option><option value=\"Bahrain\" >Bahrain<\/option><option value=\"Bangladesh\" >Bangladesh<\/option><option value=\"Barbados\" >Barbados<\/option><option value=\"Belarus\" >Belarus<\/option><option value=\"Belgium\" >Belgium<\/option><option value=\"Belize\" >Belize<\/option><option value=\"Benin\" >Benin<\/option><option value=\"Bhutan\" >Bhutan<\/option><option value=\"Bolivia\" >Bolivia<\/option><option value=\"Bosnia and Herzegovina\" >Bosnia and Herzegovina<\/option><option value=\"Botswana\" >Botswana<\/option><option value=\"Brazil\" >Brazil<\/option><option value=\"Brunei\" >Brunei<\/option><option value=\"Bulgaria\" >Bulgaria<\/option><option value=\"Burkina Faso\" >Burkina Faso<\/option><option value=\"Burundi\" >Burundi<\/option><option value=\"Cambodia\" >Cambodia<\/option><option value=\"Cameroon\" >Cameroon<\/option><option value=\"Canada\" >Canada<\/option><option value=\"Cape Verde\" >Cape Verde<\/option><option value=\"Central African Republic\" >Central African Republic<\/option><option value=\"Chad\" >Chad<\/option><option value=\"Chile\" >Chile<\/option><option value=\"China\" >China<\/option><option value=\"Colombia\" >Colombia<\/option><option value=\"Comoros\" >Comoros<\/option><option value=\"Congo\" >Congo<\/option><option value=\"Congo (Brazzaville)\" >Congo (Brazzaville)<\/option><option value=\"Costa Rica\" >Costa Rica<\/option><option value=\"Cote d&#039;Ivoire\" >Cote d&#039;Ivoire<\/option><option value=\"Croatia\" >Croatia<\/option><option value=\"Cuba\" >Cuba<\/option><option value=\"Curacao\" >Curacao<\/option><option value=\"Cyprus\" >Cyprus<\/option><option value=\"Czech Republic\" >Czech Republic<\/option><option value=\"Denmark\" >Denmark<\/option><option value=\"Djibouti\" >Djibouti<\/option><option value=\"Dominica\" >Dominica<\/option><option value=\"Dominican Republic\" >Dominican Republic<\/option><option value=\"East Timor (Timor Timur)\" >East Timor (Timor Timur)<\/option><option value=\"Ecuador\" >Ecuador<\/option><option value=\"Egypt\" >Egypt<\/option><option value=\"El Salvador\" >El Salvador<\/option><option value=\"Equatorial Guinea\" >Equatorial Guinea<\/option><option value=\"Eritrea\" >Eritrea<\/option><option value=\"Estonia\" >Estonia<\/option><option value=\"Eswatini\" >Eswatini<\/option><option value=\"Ethiopia\" >Ethiopia<\/option><option value=\"Fiji\" >Fiji<\/option><option value=\"Finland\" >Finland<\/option><option value=\"France\" >France<\/option><option value=\"Gabon\" >Gabon<\/option><option value=\"Gambia, The\" >Gambia, The<\/option><option value=\"Georgia\" >Georgia<\/option><option value=\"Germany\" >Germany<\/option><option value=\"Ghana\" >Ghana<\/option><option value=\"Greece\" >Greece<\/option><option value=\"Grenada\" >Grenada<\/option><option value=\"Guatemala\" >Guatemala<\/option><option value=\"Guinea\" >Guinea<\/option><option value=\"Guinea-Bissau\" >Guinea-Bissau<\/option><option value=\"Guyana\" >Guyana<\/option><option value=\"Haiti\" >Haiti<\/option><option value=\"Honduras\" >Honduras<\/option><option value=\"Hong Kong\" >Hong Kong<\/option><option value=\"Hungary\" >Hungary<\/option><option value=\"Iceland\" >Iceland<\/option><option value=\"India\" >India<\/option><option value=\"Indonesia\" >Indonesia<\/option><option value=\"Iran\" >Iran<\/option><option value=\"Iraq\" >Iraq<\/option><option value=\"Ireland\" >Ireland<\/option><option value=\"Israel\" >Israel<\/option><option value=\"Italy\" >Italy<\/option><option value=\"Jamaica\" >Jamaica<\/option><option value=\"Japan\" >Japan<\/option><option value=\"Jordan\" >Jordan<\/option><option value=\"Kazakhstan\" >Kazakhstan<\/option><option value=\"Kenya\" >Kenya<\/option><option value=\"Kiribati\" >Kiribati<\/option><option value=\"Korea, North\" >Korea, North<\/option><option value=\"Korea, South\" >Korea, South<\/option><option value=\"Kuwait\" >Kuwait<\/option><option value=\"Kyrgyzstan\" >Kyrgyzstan<\/option><option value=\"Laos\" >Laos<\/option><option value=\"Latvia\" >Latvia<\/option><option value=\"Lebanon\" >Lebanon<\/option><option value=\"Lesotho\" >Lesotho<\/option><option value=\"Liberia\" >Liberia<\/option><option value=\"Libya\" >Libya<\/option><option value=\"Liechtenstein\" >Liechtenstein<\/option><option value=\"Lithuania\" >Lithuania<\/option><option value=\"Luxembourg\" >Luxembourg<\/option><option value=\"Madagascar\" >Madagascar<\/option><option value=\"Malawi\" >Malawi<\/option><option value=\"Malaysia\" >Malaysia<\/option><option value=\"Maldives\" >Maldives<\/option><option value=\"Mali\" >Mali<\/option><option value=\"Malta\" >Malta<\/option><option value=\"Marshall Islands\" >Marshall Islands<\/option><option value=\"Mauritania\" >Mauritania<\/option><option value=\"Mauritius\" >Mauritius<\/option><option value=\"Mexico\" >Mexico<\/option><option value=\"Micronesia\" >Micronesia<\/option><option value=\"Moldova\" >Moldova<\/option><option value=\"Monaco\" >Monaco<\/option><option value=\"Mongolia\" >Mongolia<\/option><option value=\"Montenegro\" >Montenegro<\/option><option value=\"Morocco\" >Morocco<\/option><option value=\"Mozambique\" >Mozambique<\/option><option value=\"Myanmar\" >Myanmar<\/option><option value=\"Namibia\" >Namibia<\/option><option value=\"Nauru\" >Nauru<\/option><option value=\"Nepal\" >Nepal<\/option><option value=\"Netherlands\" >Netherlands<\/option><option value=\"New Zealand\" >New Zealand<\/option><option value=\"Nicaragua\" >Nicaragua<\/option><option value=\"Niger\" >Niger<\/option><option value=\"Nigeria\" >Nigeria<\/option><option value=\"North Macedonia\" >North Macedonia<\/option><option value=\"Norway\" >Norway<\/option><option value=\"Oman\" >Oman<\/option><option value=\"Pakistan\" >Pakistan<\/option><option value=\"Palau\" >Palau<\/option><option value=\"Palestine\" >Palestine<\/option><option value=\"Panama\" >Panama<\/option><option value=\"Papua New Guinea\" >Papua New Guinea<\/option><option value=\"Paraguay\" >Paraguay<\/option><option value=\"Peru\" >Peru<\/option><option value=\"Philippines\" >Philippines<\/option><option value=\"Poland\" >Poland<\/option><option value=\"Portugal\" >Portugal<\/option><option value=\"Puerto Rico\" >Puerto Rico<\/option><option value=\"Qatar\" >Qatar<\/option><option value=\"Romania\" >Romania<\/option><option value=\"Russia\" >Russia<\/option><option value=\"Rwanda\" >Rwanda<\/option><option value=\"Saint Kitts and Nevis\" >Saint Kitts and Nevis<\/option><option value=\"Saint Lucia\" >Saint Lucia<\/option><option value=\"Saint Vincent\" >Saint Vincent<\/option><option value=\"Samoa\" >Samoa<\/option><option value=\"San Marino\" >San Marino<\/option><option value=\"Sao Tome and Principe\" >Sao Tome and Principe<\/option><option value=\"Saudi Arabia\" >Saudi Arabia<\/option><option value=\"Senegal\" >Senegal<\/option><option value=\"Serbia\" >Serbia<\/option><option value=\"Seychelles\" >Seychelles<\/option><option value=\"Sierra Leone\" >Sierra Leone<\/option><option value=\"Singapore\" >Singapore<\/option><option value=\"Slovakia\" >Slovakia<\/option><option value=\"Slovenia\" >Slovenia<\/option><option value=\"Solomon Islands\" >Solomon Islands<\/option><option value=\"Somalia\" >Somalia<\/option><option value=\"South Africa\" >South Africa<\/option><option value=\"South Sudan\" >South Sudan<\/option><option value=\"Spain\" >Spain<\/option><option value=\"Sri Lanka\" >Sri Lanka<\/option><option value=\"Sudan\" >Sudan<\/option><option value=\"Suriname\" >Suriname<\/option><option value=\"Sweden\" >Sweden<\/option><option value=\"Switzerland\" >Switzerland<\/option><option value=\"Syria\" >Syria<\/option><option value=\"Taiwan\" >Taiwan<\/option><option value=\"Tajikistan\" >Tajikistan<\/option><option value=\"Tanzania\" >Tanzania<\/option><option value=\"Thailand\" >Thailand<\/option><option value=\"Togo\" >Togo<\/option><option value=\"Tonga\" >Tonga<\/option><option value=\"Trinidad and Tobago\" >Trinidad and Tobago<\/option><option value=\"Tunisia\" >Tunisia<\/option><option value=\"Turkey\" >Turkey<\/option><option value=\"Turkmenistan\" >Turkmenistan<\/option><option value=\"Tuvalu\" >Tuvalu<\/option><option value=\"Uganda\" >Uganda<\/option><option value=\"Ukraine\" >Ukraine<\/option><option value=\"United Arab Emirates\" >United Arab Emirates<\/option><option value=\"United Kingdom\" >United Kingdom<\/option><option value=\"United States\" >United States<\/option><option value=\"Uruguay\" >Uruguay<\/option><option value=\"Uzbekistan\" >Uzbekistan<\/option><option value=\"Vanuatu\" >Vanuatu<\/option><option value=\"Vatican City\" >Vatican City<\/option><option value=\"Venezuela\" >Venezuela<\/option><option value=\"Vietnam\" >Vietnam<\/option><option value=\"Wales\" >Wales<\/option><option value=\"Yemen\" >Yemen<\/option><option value=\"Zambia\" >Zambia<\/option><option value=\"Zimbabwe\" >Zimbabwe<\/option><\/select><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div 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wd-flex-row wd-align-items-center\">    <label  for=\"wdform_10_element9\" class=\"wdform-label\">Email id<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-70\" ><input type=\"text\"                           class=\"wd-width-100\"                           id=\"wdform_10_element9\"                           name=\"wdform_10_element9\"                           value=\"\"                           data-value=\"\"                           title=\"\"                           placeholder=\"\"                                                       \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"2\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_own_select\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_own_select\" ><div class=\"wdform-label-section wd-width-30 wdform_select wd-flex-row\">    <label  for=\"wdform_2_element9\" class=\"wdform-label\">Monthly Income<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex wdform_select wd-flex-row wd-width-70\" ><select class=\"wd-width-100\" id=\"wdform_2_element9\" name=\"wdform_2_element9\" ><option value=\"\" selected=\"selected\">Select value<\/option><option value=\"8000 AED -10000 AED\" >8000 AED -10000 AED<\/option><option value=\"10000 AED -15000 AED\" >10000 AED -15000 AED<\/option><option value=\"15000 AED - 20000 AED\" >15000 AED - 20000 AED<\/option><option value=\" 20000 AED - 30000 AED\" > 20000 AED - 30000 AED<\/option><option value=\"Above 30000 AED\" >Above 30000 AED<\/option><\/select><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"9\" class=\"wdform_row\"><div type=\"type_own_select\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_own_select\" ><div class=\"wdform-label-section wd-width-30 wdform_select wd-flex-row\">    <label  for=\"wdform_9_element9\" class=\"wdform-label\">Finance Amount Required<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex wdform_select wd-flex-row wd-width-70\" ><select class=\"wd-width-100\" id=\"wdform_9_element9\" name=\"wdform_9_element9\" ><option value=\"Select value\" selected=\"selected\">Select value<\/option><option value=\"Less than 1 Million AED\" >Less than 1 Million AED<\/option><option value=\"1 Million to 2 Million AED\" >1 Million to 2 Million AED<\/option><option value=\"2 Million to 5 Million AED\" >2 Million to 5 Million AED<\/option><option value=\"Above 5 Million\" >Above 5 Million<\/option><\/select><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"11\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_captcha\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_captcha\" ><div class=\"wdform-label-section wd-width-30  wd-flex-row 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relative; left: 0px; top: 0px;\"><div type=\"type_submit_reset\" class=\"wdform-field wd-width-100 wd-flex wd-flex-column fm-type_submit_reset\" ><div class=\"wdform-element-section wd-flex  wd-flex-row wd-justify-content-center wd-width-100\" ><button  type=\"button\" class=\"button-submit\" onclick=\"fm_submit_form('9');\"  data-ajax=\"0\"><span class=\"fm-submit-loading spinner fm-ico-spinner\"><\/span>                                                                    Get a Free Call<\/button><button  type=\"button\" class=\"button-reset wd-hidden\" onclick=\"fm_reset_form(9);\" >Reset<\/button><\/div><\/div><\/div><\/div><\/div><div valign=\"top\" class=\"wdform_footer wd-width-100\"><div class=\"wd-width-100\"><div class=\"wd-width-100 wd-table\" style=\"padding-top:10px;\"><div class=\"wd-table-group\"><div id=\"9page_nav1\" class=\"wd-table-row\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"wdform_preload\"><\/div><input type=\"hidden\" name=\"fm-current-page\" value=\"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/2636\" \/><\/form><\/div><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Have you been planning to take a <strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/all-loan\/mortgage-home-loan\">mortgage<\/a> <\/span><\/strong>to purchase a property in the UAE? You might have to make some changes to your plans. The low home financing rates in the country will see a rise in the year 2022. <\/span><\/p>\n<blockquote><p><strong><em><span style=\"background-color: #ccffff; font-size: 14px;\"><span style=\"color: #000000;\">According to reports from a Reuters survey, the price of residential properties in Dubai will see an increase of <a style=\"color: #000000; background-color: #ccffff;\" href=\"https:\/\/metropolitan.realestate\/blog\/invest\/dubai-property-market-trends-forecast-for-2022\/\">5%<\/a> in 2022. It was initially predicted that the rise would be around 2.5%.\u00c2\u00a0<\/span><\/span><\/em><\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 100;\">A lot of property investors had already made their minds before the year 2022 kicked in with a rise in home financing rates. It is quite evident from the rise of mortgage-backed home sales in the second half of 2021. In the last six months of 2021, mortgage-backed home sales made up half of the overall property sales. Homeowners did not fail to take advantage of the <strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/blog\/best-mortgage-rates-in-uae-2018-money-clinic\/\">low mortgage rates<\/a><\/span><\/strong> at around 3% to 3.5%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The value of properties in the UAE marked a sharp rise in the period between 2014 and 2015. But property values at most locations in the country were available at way below the peak rates in 2014 and 2015. However, the low value of properties will cease to exist from this new year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The prices of properties at varied locations are showing a steady rise. The surge is expected to continue at around <\/span><span style=\"font-weight: 400;\">3%<\/span><span style=\"font-weight: 400;\"> even in the year 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of the long-term rental areas include Al Nahda, Bur Dubai, Dubai Silicon Oasis, and Jumeirah Village Circle. On the other hand, some particular locations for luxury units include Palm Jumeirah, JBR, Downtown Dubai, and Dubai Marina. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The two prime end-user locations, Dubai Marina and Downtown Dubai, are in particular likely to witness the rise in property prices. The jacked-up home finance costs will be accompanied by more than one rate hike in terms of mortgage rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But mortgage rates will see an increase for another leading reason. The <strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.centralbank.ae\/en\">UAE Central Bank<\/a><\/span><\/strong> has announced a closer watch on the local banks. All lending&#8217;s related to real estate, including mortgages, will be under the supervision of the UAE Central Bank. Due to the scrutiny of a higher regulator, the banks are likely to turn more conservative. All types of financing related to real estate will become more complicated than earlier.<\/span><\/p>\n<p><a href=\"https:\/\/digital.mashreqbank.com\/creditcards\/ntb\/offers\/cashback?utm_pcode=SPC92&amp;utm_source=affiliate-compare-4-benefit&amp;utm_medium=website\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-2658 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2022\/02\/Cashback-320x50-1.jpg\" alt=\"\" width=\"320\" height=\"50\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2022\/02\/Cashback-320x50-1.jpg 320w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2022\/02\/Cashback-320x50-1-300x47.jpg 300w\" data-sizes=\"(max-width: 320px) 100vw, 320px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 320px; --smush-placeholder-aspect-ratio: 320\/50;\" \/><\/a><\/p>\n<h2><b>What Can A First-Time Property Buyer In The UAE Do In This Scenario?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Experts have suggested that opting for a long-term fixed rate will be more beneficial for first-time buyers. The most prudent choice will be mortgaging between three and five years linked to a low follow-on rate. It will ensure that first-time buyers can budget for the longest possible term. It will also help in mitigating risks in the case of changing circumstances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First-time buyers can be saved from unexpected bills by settling for long-term fixed rates. Sometimes variable rates seem appealing to first-time buyers. But a first-time property buyer in the UAE needs to remember that this is a period of low-interest rates. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It can only be estimated that the interest rate will be on the rise in the upcoming days. Therefore, sticking with fixed rates would be a cautious step to take in the current scenario.<\/span><\/p>\n<h2><b>Why Should You Choose Fixed Rates Over Variable Rates?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The current market trend shows that an increasing number of people are settling for fixed rates over variable rates. <\/span><span style=\"font-weight: 400;\">\u00c2\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fixed rates offer a lot more security than variable rates in the current scenario. People looking forward to a budget for a specific period of time should choose fixed rates without second thoughts. In fact, even lenders favor fixed rates over variable rates in the present circumstances. Banks offer more options in terms of fixed rates than variable deals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The fixed rates can be for one year or for as long as fifteen years. But the mid-term options from three years to five years are more convenient. It enables people to assess their plans at the end of the fixed rate deal period. People looking forward to refinancing their current home loan should not let go of this opportunity. They can switch to a cheaper deal if their current rates are higher than market rates.<\/span><\/p>\n<h2><b>Choose The Best Mortgage Rate<\/b><\/h2>\n<p><a href=\"https:\/\/www.adcb.com\/en\/business\/commercial\/business-loans-financing\/commercial-real-estate-financing\/\"><span style=\"font-weight: 400;\">ADCB<\/span><\/a><span style=\"font-weight: 400;\"> is currently advertising their mortgage rates below 3%. On the other hand, <\/span><strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.emiratesnbd.com\/en\/priority-banking\/our-solutions\/loans\/home-loans\/commercial-properties-financing\/\">Emirates NBD<\/a><\/span><\/strong><span style=\"font-weight: 400;\"> has pegged their rate around 4.5% to 5%. Some other leading local lenders have kept their rate around the 3.5% mark. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some lenders try to counter the low rates with the help of a floor rate. It indicates that the mortgage rate will not fall under the floor rate irrespective of market conditions. It creates a huge sense of security for lenders.<\/span><\/p>\n<h2><b>Wrapping Up<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Homebuyers need to focus on some factors beyond the interest rate. The factors include fee finance, offset accounts, and overpayment allowance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you been planning to take a mortgage to purchase a property in the UAE? You might have to make some changes to your plans. The low home financing rates in the country will see a rise in the year 2022. According to reports from a Reuters survey, the price of residential properties in Dubai [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"two_page_speed":[],"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-2636","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uae-mortgage-guide"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/2636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/comments?post=2636"}],"version-history":[{"count":7,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/2636\/revisions"}],"predecessor-version":[{"id":3550,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/2636\/revisions\/3550"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/media\/2638"}],"wp:attachment":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/media?parent=2636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/categories?post=2636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/tags?post=2636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}