Three rules for refinancing

In 2016 the mortgage refinance market is expected to grow 30 per cent. Here are three simple rules to follow when looking to refinance:

1 Beware of ‘honeymoon rates’ and read the fine print. The revert rate could be much higher.

2 Shop around – This is a no brainer. There are plenty of better offers out there. Do some homework and research.

3 Compare the comparison rate. The comparison rate takes into consideration other regular costs such as fees and what the mortgage reverts to if there is a honeymoon rate.

Source: Lifehacker

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