Finance Tips10 August 20264 min read
Refinancing means replacing your current loan with a new one, either with your existing lender or a different one. It can lower your repayments, free up cash, or help you reach a new goal sooner.
It may be worth a look if your interest rate is no longer competitive, your fixed rate is ending, your property value has risen, or your financial situation has improved since you first borrowed.
There are costs involved, including discharge fees, application fees, and possible government charges. We help you weigh those costs against the potential savings so you can make a clear decision.
Run your numbers through our Loan Repayment Calculator at a few different rates to see the difference a small change can make over the life of the loan.