Confused about the ins and outs of mortgage refinancing?
There are two key considerations when you’re looking at taking the step – why and how. Here, we examine both.
A home loan is generally a long-term proposition, but in some situations it can be suitable to refinance your mortgage. Refinancing involves taking out a new mortgage and using those funds to pay off your existing mortgage. Doing it right could deliver significant financial gains over time.
The two key things you need to know and understand before you go ahead are your reasons for doing it and how to go about it.