Refinancing your home can be easier than you think.
Refinancing in 4 easy steps
You can generally apply to refinance your mortgage with most lenders online or over the phone.
Provide your supporting documentation to the lender for assessment (this will be outlined during discussions with your lender).
Once your new mortgage is approved your approval documentation, including any special conditions will be sent to you.
Once you've accepted your loan offer and returned it to your new lender, they will arrange for repayment and discharge of the existing loan.
Why is my mortgage repayment history important?
You want to show you have a good repayment history by making your repayments on time when they fall due because an adverse credit history can reduce your ability to borrow any additional finance for your home or refinance to a cheaper home loan.
Don't forget government fees and charges
There generally will be some Government fees and charges.