Legal information for property buyers and sellers
0800 PPTYLAW (0800 778 952)

Refinancing

What is refinancing?

Refinancing is the process of altering one or more loans on a business or property for another. This is most frequently done to increase the amount of a loan or to take advantage of more advantageous interest rates or conditions.

Do I need legal help to refinance?

Not all refinancing requires the assistance of a lawyer. If you have a mortgage with a bank and just want to increase the amount of your loan or move to a different lending product with that bank, they may be happy with keeping the same mortgage or other security.

If you want to change your loan from one bank to another, you may need to discharge, or cancel, your mortgage with the original bank and register a new one with the new lender. Generally this is a simple process and a call to your property lawyer can set up the new mortgage with a minimum of fuss.

Need reassurance about your refinancing?

To confirm whether your refinancing plans require legal assistance please contact us for advice online or call our property law team on 0800 PPTYLAW (0800 778 952) or +64 6 3705102.