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.
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.
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
- To reduce the profit rate on EMI
- To buy another property
- To upgrade the current property with renovation etc.
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).
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.
EIBOR (Emirates InterBank Offered Rate) is a benchmark rate published daily by UAE Central Bank. It reflects the average rate offered by major banks in UAE for short-term financing facility 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.
The property price is ()
I will put down a payment of ()
and would like a finance period (years) of
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* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
Representative example
Finance amount
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Monthly repayment
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* Please note that this is just an estimate based on the given amounts and the downpayment is dependent on the transaction type along with the relevant conditions that apply
Types of Home Finance
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.
Islamic Home Finance
Introducing our best home finance profit rates
- Own your own home with FAB Islamic’s range of home finance options and low fixed profit rates
- Low down payments, high finance amounts, flexible profit rate options and helpful home finance advisers
- Exclusive deals on properties with major developers
- 120-day grace period for expats and 180 days for UAE Nationals before your first instalments for Home Finance buyouts
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 10 million
- Financing of up to 50% of the property’s value
- Competitive variable profit rates with an option to link to EIBOR
Need more help? Get in touch.
Contact us anytime for further assistance or check out our FAQ page for more information.
| For customers within the UAE | For customers outside of the UAE | ||
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600 52 5500 | |
+971 2 681 1511 |