What should you consider before refinancing?
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Mortgage holders who are unhappy with their current deal ultimately have two options available to them: renegotiate with their current lender or refinance to a new lender.
For those who are satisfied with their current lender but are after a better interest rate, attempting to renegotiate could be the first move to make.
Borrowers who are either unable to negotiate a satisfactory rate reduction with their current bank, or who are just wanting to move on, may want to think about refinancing to a new lender. Though it's worth noting that some mortgage holders won't be in a position to refinance.
Read more: What is the home loan loyalty tax?
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