Refinancing means to replace an old mortgage with a new one.

There can be many reasons a homeowner would choose to refinance- to free up cash flow, to pay down other high interest credit cards or loans, to renovate a home or even to take a holiday. One of the best reasons to refinance is to take advantage of a better interest rate and this might make sense even if there is a prepayment penalty.

If you are considering refinancing at renewal or before be sure to speak to one of us, we will do the calculations and advise if changing your mortgage makes financial sense.