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Refinancing

Explore loan types, purposes and costs. Use the information to ask questions and assess alternatives before deciding.

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Refinancing

Refinancing replaces existing debt with a new agreement. A lower monthly payment alone does not show that the change is worthwhile.

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Debt refinancing

Start with an up-to-date list of balances, rates, fees and remaining terms. Use the same date for all figures.

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Consolidating loans

Consolidating loans can mean fewer payments to track. The financial effect depends on the new rate, fees and repayment period.

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Consolidating debt

Credit cards and instalment loans can have different costs and schedules. Build a full overview before considering consolidation.

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Refinancing consumer loans

Compare what remains payable on your current consumer loan with a specific new schedule. Costs already paid are not future savings.

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Refinancing a mortgage

When changing a mortgage, assess the rate, fees, collateral and remaining term together. Obtain a written offer comparable with your existing agreement.

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Refinancing car finance

A car's value may fall during the loan. When refinancing, consider both the debt and how long you expect to keep the car.

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Unsecured refinancing

A new unsecured agreement may replace existing debt, but pricing and availability are assessed individually. Savings are not established until the figures are compared.

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