Refinancing involves taking out a new loan to pay off an existing loan. The reason companies ‘swap’ loans is so they can get one or more of these benefits:
- Lower interest rate
- Lower fees
- Longer loan term
- Better repayment conditions
Insolvency
Refinancing involves taking out a new loan to pay off an existing loan. The reason companies ‘swap’ loans is so they can get one or more of these benefits: