Refinance Calculator

Refinancing is the process of replacing your existing home loan with a new one, usually to get a better interest rate, change loan terms, or access equity in your property.

You might consider refinancing when interest rates have dropped, your financial situation has improved, you want to consolidate debt, or you need to access equity in your property.

Refinancing costs can include application fees, valuation fees, legal fees, discharge fees from your current lender, and potentially break costs if you're on a fixed rate loan.

Compare the costs of refinancing with the potential savings.

Consider factors like the interest rate difference, loan term, fees, and how long you plan to stay in the property.

It may be more challenging to refinance with bad credit, but it's not impossible.

You might need to work on improving your credit score first or consider lenders who specialize in bad credit loans.

The refinancing process typically takes 2-4 weeks, but it can vary depending on the lender, your circumstances, and how quickly you provide required documentation.