What is Refinance?
Refinancing is switching your home loan to a different lender (or restructuring with your current one) — usually for a better rate, better features, different structure, or to access equity. The process involves a new application, valuation, and discharge of the old loan.
Why it matters for you
The "right" refinance considers total cost over 3–5 years — not just rate. Break costs, discharge fees, new establishment costs and government fees can erode savings. A good broker models break-even periods and annual rate reviews before recommending a move. Most Wity clients have their loan reviewed annually — often lenders renegotiate on the spot to keep the business.
Last updated: April 2026