You can refinance a loan whenever you want, but you should only switch if you can get a better deal. A refinancing loan comes with upfront costs such as break fees (if you’re on a fixed loan), exit fees and open fees. When deciding, calculate how long it takes to recoup the costs of refinancing.
Not sure whether it’s worth undertaking a home loan refinance? Use our refinance calculator to figure out how much you could save by getting a refinancing home loan with Tic:Toc.