How do you refinance your home loan?
- Choose a bank which offers a loan with the lowest interest (be sure to check the terms and conditions too).
- If you’re happy with the terms, you’ll need to send in documents to the banks. Check with your bank to find out what documents they would require.
- The banks will then send a property valuer to assess the value of your house.
- Once the banks have approved your application, they will send you a letter of offer.
- At this point, you’ll need to get a lawyer to handle the process of settling the old loan and finalising the new one.
- You now have a new loan on your property.