Refinancing is the process of applying for a new loan whereby you repay your existing loan(s) early and possibly keep some money. 😊

Refinancing is recommended when: 

➤⠀adds a considerable cost reduction, either through a more advantageous price or the possibility to apply for a longer credit period;

➤⠀You want to combine several loans into one, so that you get one monthly payment that is lower than all your previous loan payments combined.