We're here to help you through a seamless refinancing journey
We know exactly how crucial it is to sign up for the right home financing facility, no matter what stage of the journey you are on. We are here to make the transition as seamless and beneficial for you as possible. Before we move forward, there are a few important details to consider.
What are you looking for?
We are here to help you navigate this financial journey with ease by offering you all the information, tools and insightful tips to make an informed decision.
What is the Home Financing buyout option?
Buyout of home financing facilities is when you end your home financing with your current financial institution or bank and transfer that financing facility to a different bank or institution.
What benefits does the Home Financing buyout option offer?
Home Financing can be one of your biggest outgoings every month and even a slight reduction in the profit rate on your home financing facility can amount to substantial savings. Reducing your monthly commitment on the EMIs can be done by:
- Being offered a better rate from another bank
- Changing to a longer tenure
What are the reasons people opt for a buyout?
- To reduce the interest rate on EMI
- To buy another property
- To upgrade the current property with renovation etc.
Can I get another financing facility on an existing home financing facility?
Depending on the market value of your property vs the outstanding financing balance, you may apply for a top-up on your existing financing facility. The bank would require a recent dated property valuation report (the cost of which is borne by the customer).
How much could I finance?
The amount you can finance in Equity Release depends on the value of your property. Depending on your property valuation and the amount that you currently owe on your home financing, you may be able to finance a higher sum than what you currently owe. Have a property to evaluate? You may reach out to our Contact Centre at 600525500 for assistance.
What is EIBOR, its trend and max high/low?
EIBOR (Emirates InterBank Offered Rate) is a benchmark interest rate published daily by UAE Central Bank. It reflects the average rate offered by major banks in UAE for short-term loan funding between banks. Daily and historical data for EIBOR is available at UAE Central Bank’s website EIBOR Rates | CB UAE (centralbank.ae).
Insightful Tips and Resources
A few charges to consider before refinancing
Before applying for a refinancing, ensure that you assess what you want from your new home financing facility. Do keep in mind that moving your financing from your current provider may incur charges like any early settlement or exit fees.
Best ways to manage your finances
Planning a budget and managing finances efficiently are excellent ways to make sure you stay on top of your money game and manage to save for your future.
Home Finance Calculator
Use our Home Finance Calculator to find out how much you are eligible to get financed and the breakdown of your monthly payments. This tool will help you understand the difference an overpayment on your finance could make or how much more you could finance on your current options.
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* Please note that this is just an estimate calculator based on given amounts
* Please note that this is just an estimate calculator based on given amounts
Types of Home Finance
Islamic Home Finance
Introducing our best Home Finance profit rates yet
- Variable profit rates* starting from 3-month EIBOR+ 0.55%* for the first year then 3-month EIBOR+ 1.5%* per year from the second year onward
- Dedicated Home Finance Advisor to support you throughout your financing journey
Islamic Home Finance For Foreign Investors
Buying an investment property in the UAE as a non-resident is easy with FAB Islamic.
- High financing amounts of up to AED 10 million
- Financing of up to 50% of the property’s value
- Competitive variable profit rates with an option to link to EIBOR
FAB Islamic Green Home Finance
Switch to sustainable with our green home finance.
Enjoy a discount of 0.25% on a five-year fixed profit rate and save 50% on your processing fee.
TALK TO US
You can contact us with the contact below
We are currently experiencing higher call volumes than usual. We encourage you to use the FAB Mobile application and check our Frequently Asked Questions (FAQs) page.
View our Branches & ATMs| For customer calling from UAE | For customer calling from outside UAE | ||
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600 52 5500 | |
+971 2 681 1511 |