Refinance Your Home Loan in Singapore

Refinancing replaces your existing mortgage with a new loan package. It may reduce interest costs or provide a package better suited to your plans, but the headline rate should be weighed against legal fees, valuation fees, clawbacks, lock-in penalties and the new package’s longer-term pricing.

When to review your mortgage

• Your lock-in period is ending
• Your fixed or promotional rate is expiring
• Your current rate is materially above available alternatives
• You want greater payment certainty or flexibility
• Your property plans or financial circumstances have changed

Repricing versus refinancing

Repricing means switching to another package with your existing bank. It can involve less paperwork and lower fees, but the available packages are limited to that bank.

Refinancing means moving the loan to another lender. It provides a wider comparison but may involve legal, valuation and administrative costs.

Loan$upermart can help compare the estimated costs and benefits based on available packages. Savings are not guaranteed and depend on the final offer and how long you keep the loan.

Frequently asked questions

How early should I start?

Starting several months before the lock-in or preferential period ends gives time for comparison, property valuation, documentation and legal completion.

Can I refinance during a lock-in period?

It may be possible, but early-redemption penalties or subsidy clawbacks could outweigh the savings. Review the existing loan letter carefully.

What costs should I compare?

Consider legal and valuation fees, redemption penalties, clawbacks, repricing fees, subsidies, the new lock-in period and the rate after any promotional period.