Refinancing refers to when you take on a new loan and use it to pay off your old loan. This effectively allows you to change your loan to suit new circumstances or take advantage of better rates that weren’t available when the original loan was being taken out. This can be done by restructuring your loan payments to a better deal, over a longer or shorter period or with different interest rates.
If the value of your property has increase, it could also be the perfect time to look at using built-up equity in your property.
We’ll help you with either unlock equity, save on repayments, or both by looking at refinancing options with other, more favourable lenders.