Mashreq extends mortgage pricing promotion through April 2026 — pre-approval fees waived

Mashreq Bank has extended its April mortgage pricing promotion through 30 April 2026 — with multiple meaningful tweaks beyond just headline rate. Some are clear borrower wins; others change the math in ways worth understanding.

What changed

Ten key elements of the extended promotion:

1. AED 1,050 pre-approval fees waived for all segments until 30 April 2026.
2. Valuation fee refund under Neo Plus (for New-To-Bank customers) is being discontinued — effective date to be announced.
3. The pricing grid applies to Home Loans and Ijarah Home Finance facilities.
4. The new pricing campaign and associated fees apply to cases logged between 1–30 April 2026.
5. Pricing grid applies to exposures up to AED 15 million. Larger cases priced individually with business concurrence.
6. Top-up cases priced individually under ADM guidelines.
7. No Early Settlement Fee on part payments up to 25% of outstanding loan balance per calendar year — applicable only to residential properties.
8. If rental income exceeds business or salary income, pricing increases by 100 basis points (1.00%).
9. Current and savings account cashback continues per the previous campaign structure.
10. Pre-Approval Letter and Final Offer Letter validity is 30 days for all fixed-rate cases.

Who this affects

The AED 1,050 pre-approval fee waiver is a clean win for any new applicant. Stack it with the property valuation refund (where still applicable for New-To-Bank) and the upfront switching cost drops materially.

The part-payment ESF waiver up to 25% per year is genuinely useful for borrowers who plan to make periodic lump-sum reductions to their loan — bonus payouts, sale proceeds, etc. Over a 25-year tenure that flexibility translates to material interest savings.

The 100bps uplift on rental-income-dominant applicants is the catch worth flagging. If your declared rental income exceeds your salary or business income, your effective rate goes up by a full percentage point. This is a meaningful penalty for portfolio investors and should be modelled carefully against alternatives.

What to do next

If you are a salaried buyer with no portfolio rental income, the Mashreq April promotion is worth pricing properly — the fee waivers add up. If your application leans on rental income, run the comparison against banks that do not apply a 100bps uplift; the headline rate may be misleading. We can model both scenarios for you.