What is mortgage refinancing?

Mortgage refinancing is when you strike up a new mortgage agreement on your property with the same lender, or with a new lender.

Refinancing your mortgage could be a good way to decrease your monthly repayments or lowering your interest rate. It could also be a great way to access equity in your home.

Read other Q&As

• What is the longest mortgage term I can get?
• What other fees come with a mortgage?
• How much can I borrow for a mortgage?
• How much will my mortgage down payment be?
• Should I get a mortgage pre-approval?