Referred by some as ‘loan switching’, refinancing is basically a process of paying out your current home loan by taking out a new loan. This can be done with a new loan from your existing lender or through a different lender.
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Flexible repayments and extra repayments to pay off the loan sooner
Repayment holiday to take a break from repayments
Offset account to reduce your monthly interest and repayments
Flexible repayments and extra repayments to pay off the loan sooner
WARNING:Comparison rate is true only for the examples given and may not include all fees and charges. Comparison rate is calculated on a $150,000 secured loan, over a 25 year term. Fixed Rate Warning. Fixed. rate loans may be subject to significant break costs, the terms and details of which are specified in your credit contract.