Mortgage is a responsible step in the process of buying your own home. Of course, before applying for a mortgage loan, both the bank and the borrower assess creditworthiness, risks, etc. However, there are often situations when the borrower has circumstances that prevent him from repaying the loan. In this case, it is worth considering such a banking service as refinancing - the process of replacing the current mortgage with a new one. The essence of refinancing is to reduce mortgage payments, extend the loan term, etc. You can apply for refinancing both to the bank with the current mortgage and to any other.
Let's consider the terms of refinancing a mortgage at Commonwealth Bank.
In the case of transferring your mortgage loan for refinancing to Commonwealth Bank for 250,000 AUD or more, you receive cashback from CBA in the amount of up to 2,000 AUD.
The CBA refinance rebate does not apply to bridging loans.
You can start the refinance application online and if eligible, receive conditional approval in several minutes.
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