The Central Bank of the UAE directed local banks to reduce the early settlement fee on mortgages to a maximum of 1 per cent or Dh10,000, whichever is less, to those borrowers who want to exit their mortgages early..

The apex bank said in a circular that borrowers who had already paid 3 per cent settlement fee can get the refund from their banks within 30 days.

Read more on: https://www.khaleejtimes.com/business/economy/uae-central-bank-sets-early-settlement-fee-limit-for-mortgages/