Glossary
Refinance
Changing the terms of your loan, or replacing your existing loan with a new one. Refinancing is often associated with going to a different provider. You may choose to do this because:
* You would benefit from choosing another mortgage repayment option ie moving from a fixed to a floating rate or vice versa.
* You wish to change the amount you pay each month on your loan.
* There may be a cost charged by the lender if you choose to refinance within the term of your loan.
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Here you'll find explanations of the many financial terms used throughout the Sorted website.
