Why do people refinance property loans?

There are many reasons to refinance your home loan, such as:

  • Saving money: You may be able to save money by obtaining a better rate
  • Renovations: covering costs related to improvements and additions
  • Debt management: Taking high interest rate loans such as credit cards to a more manageable platform
  • Switching rate types: You may want to switch from a variable to a fixed rate
  • Buying a new car: You can roll your car loan into your home loan