Mortgage refinance — can my UAE bank prevent me from moving to a competitor at lower rate?

Central Bank of UAE rules cap early-settlement fees at 1% of outstanding balance or AED 10,000 (whichever is lower) for residential mortgages. The 1.5% quote is above cap and you should challenge it formally. 'Transfer admin' fees are not separately permitted — only the CBUAE-prescribed early-settlement fee applies. Send Mashreq a written request to confirm fees within CBUAE caps; if they refuse, file a complaint with the CBUAE Consumer Protection Department and proceed with the ENBD switch in parallel. CBUAE typically rules in the customer's favour within 30 days.