What is Refinancing?

Refinancing is when you change your current home loan to a new one that satisfies your current financial situation. It can either be done internally (with the same lender) or externally (with a different lender).

What are the benefits of Refinancing?

Refinancing can allow you to access the equity of your home to cover major costs such as school fees or a family holiday. It can also allow you to renovate your property which could in turn add to its value.

 

Will Refinancing save me money?

The most common reason consumers choose to refinance is to gain better interest rates. However, make sure you tally up all the fees involved in switching loans to see if you are saving a enough to make the process worthwhile.

How much money can I borrow when refinancing?

The amount varies for each individual as it is based on income and current financial situation. Using our online calculator can give you a ballpark amount, but for a more accurate figure, speak to us about what is possible.

Before going ahead with the decision to refinance, make sure you’ve done your homework and seek professional advice to see if it’s the right choice for you.