How to save thousands on your home loan – Pocketful of Dirhams

One of our biggest financial milestones in life is buying a home. From saving up for a deposit to applying for a mortgage and having it approved is a dream come true for millions around the world.

Buying property is also one of the best investments we can make – even if it doesn't appreciate in value, it still means that we are paying ourselves rather than a landlord.

But one of the biggest concerns for homeowners is the interest they pay on their mortgages, whether it is variable or fixed. While today's record low interest rate environment might be bad news for savers, it spells great news for homeowners looking to refinance their mortgages and reduce their monthly instalments.

Unsurprisingly, there has been a jump in the number of people seeking to refinance their home loans, according to Mortgage Finder, the Dubai-based independent home loan specialist.

Host Felicity Glover, the Personal Finance Editor at The National, is joined by Brendan Kennelly, a senior consultant at Mortgage Finder, who offers his advice on how to refinance your home loan and get the best interest rate possible.

Listen to last week's episode on why personal finance advice is going viral on TikTok:

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Name: Brendalle Belaza

From: Crossing Rubber, Philippines

Arrived in the UAE: 2007

Favourite place in Abu Dhabi: NYUAD campus

Favourite photography style: Street photography

Favourite book: Harry Potter

Specs

Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)

Power: 218hp (Cooper and Aceman), 313hp (Countryman)

Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)

On sale: Now

Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates

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On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

While you're here

Richard Jolly: Footballers become scapegoats during coronavirus crisis

Damien McElroy: What the failed Newcastle takeover says about Britain

Richard Jolly: Football finances will be transformed by the coronavirus

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