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| What is Remortgaging?
Remortgaging is related to the refinancing of a mortgage loan. A remortgaging can apply to a HDB loan, residential private housing loan, commercial industrial property loan and overseas property mortgages. What is Repricing? Repricing is the renewal of your existing interest plan with your existing lender. If you are out of your lock in period, your lender or bank may offer you a new promotional interest rate package over the next 2 - 3 years. Consider if the new interest rate plans are competitive with other market offers. You may wish to consider remortgaging or refinance your loan if there is a better deal from another lender. Some banks also provide legal subsidies for remortgaging your mortgage over to them. For more information on Remortgaging, visit: http://www.mortgagesupermart.com.sg/resources/articles/153-refinancing-remortgaging-and-repricing-101 |