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What is involved in refinancing my mortgage?

Getting alternative finance approved is the first important step.

Below are the main steps. 

  1. We get a suitable loan approved to replace your existing loan.
  2. We notify your lawyer that you intend refinancing your mortgage and provide him or her with details of the replacement finance.
  3. Your lawyer contacts your bank to seek a discharge of mortgage. The bank will provide a settlement figure to your lawyer that outlines how much it must be repaid in order to discharge its mortgage.
  4. Your lawyer draws down the funds from the new lender and repays the loan owing, then discharges the original lender's mortgage and registers a new mortgage.

 

In addition to these things, we will work with you to ensure that your new loan(s) are set up to suit you and help you achieve your financial goals.