Comparing a 6.68% mortgage quote near Abu Dhabi

[warm_grove]

The lender presents 6.68% as the meaningful number, but I hesitate to compare on that rate alone. The property near Abu Dhabi is around AED 1,248,000, and the quote refers to a 20-year term; fees and the applicable loan-to-value band make the cheaper advertised figure less relevant.

I want to know what the loan costs during the period I am actually likely to keep it, while also checking that the monthly payment remains comfortable without a future refinance. Should I compare instalments and upfront charges over the same holding period, then assess early-repayment costs and portability separately? I also need to confirm whether 6.68% is fixed for all 20 years or whether the rate resets earlier, because those are very different offers.

 

[otis.cedar]

Compare total cash outflow over the period you realistically expect to keep the loan, not just the headline rate. Include instalments, arrangement fees and any other stated charges, then keep early-repayment costs separate because they depend on your plans.

One point needs clarifying: does “fixed for 20 years” mean the rate is genuinely fixed for the entire loan term, or is 20 years only the repayment term with a shorter fixed period? That distinction changes the refinance assumptions and rate-reset risk completely.