This is a service provided by the Bank by the Borrower, which consists in a new borrowing in order to repay the debt under the current loan. If we speak simple words, this is obtaining a new loan in the same or other bank to pay the old one.
The answer to the question depends on the individual characteristics of the current situation. The service allows you to change the conditions of cooperation, bring them into compliance with the position of the modern market. This is especially true if the current loan was obtained for a long time. Tax deduction when refinancing mortgages is also provided.
The service allows you to change the currency of the loan and not depend on the fluctuations of the courses. Statistics show that most Russian citizens receive salary in rubles. Making payments in the currency may be for them a malfunction. In addition to the main advantages, the offer allows you to change the return period of the loan or get a large amount than the initial loan.
However, it should be remembered that the proposal can significantly increase the final amount of the loan. Thinking about the holding of refinancing, it is worth carefully evaluating the situation and calculate the benefits gained.
With all information you can find on our official website