There’s good news for borrowers looking to settle their mortgage early.
The UAE’s Central Bank has announced that lenders can no longer charge a 3 per cent early settlement fee.
Going forward, banks can only claim 1 per cent of the outstanding mortgage amount or AED 10,000, whichever is less.
Chris Schutrups, Managing Director of Mortgage Finder, explains why it’s good news for consumers.
Customers who have already paid a higher fee are eligible for a refund from their bank, within 30 days.
Dubai World Trade Centre welcomes 2.65 million attendees in 2024
Dubai World Trade Centre (DWTC) has unveiled its 2024 results, welcoming 2.65 million event participants in 2024, marking a seven per cent increase compared to the previous year.
Greenpeace must pay $667m over US Standing Rock protests
Greenpeace must pay a Texas-based pipeline company nearly $667 million (AED 2.4 trillion) in damages for the environmental advocacy group’s role in 2016-2017 protests against the Dakota Access Pipeline in North Dakota, a jury said Wednesday.
Sheikh Tahnoon discusses latest advancements in AI with Musk, Ellison
His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, has discussed ways to expand collaboration in key sectors where AI can play a transformative role during talks with Elon Musk and Oracle CTO Larry Ellison.
UAE, Tunisia launch CEPA negotiations
The UAE and Tunisia have announced the start of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to strengthen bilateral trade and investment.
Google charged with breaching EU rules, Apple told to open up to rivals
Alphabet unit Google was hit with two charges of breaching landmark EU rules on Wednesday while Apple was ordered to help rivals connect with its iPhones and iPads, as antitrust regulators continued a crackdown against Big Tech.
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