When does it make financial sense to refinance, given these fees?

For mortgages in the UAE above 1M AED: your refinancing fees can be considered to be 10,000 AED (settlement) + ~3,000 AED (valuation) + 0.25% mortgage value (registration) If your existing rate is ~1-1.5% higher than the market's fixed rates, then it probably makes perfect sense to do it. Your advisor can help you simulate and help you make a decision about your mortgage refinance.