Remortgage
Remortgaging replaces an existing mortgage with a new loan from the same or different lender, commonly pursued to access better interest rates, release equity, or consolidate debt.
| Remortgage Reasons | Motivation |
| Rate improvement | Secure lower interest charges |
| Equity release | Access property appreciation |
| Debt consolidation | Combine multiple obligations |
| Term adjustment | Modify payment schedule |
| Process Timeline | Duration |
| Rate comparison | 1-2 weeks |
| Application submission | 1 day |
| Valuation | 3-5 days |
| Approval | 1-2 weeks |
| Legal processing | 1 week |
| Total | 4-6 weeks |
| Cost-Benefit Analysis | Example |
| Current rate | 6.5% |
| New rate | 5% |
| Outstanding balance | AED 1.5M, 15 years |
| Monthly saving | AED 1,460 |
| Early settlement fee | AED 30,000 |
| Break-even | 21 months |
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