How do I refinance my property, and what exactly is it?


Refinancing allows you to pay less interest on your property, to service less of a monthly home loan installment if you’re tied for cash, or to borrow some cash using your home as collateral, and based on its new, higher valuation.

Home loan refinancing has been popular as a loan option for home buyers in US and UK. For example, for US mortgage lenders Wells Fargo and JP Morgan, refinancing made up between 60% to 75% of all home loans in the past year, according to a Reuters article in The Star.

In Malaysia, refinancing is still not yet as popular, although property prices have increased substantially while interest rates have gone down, with bank lending spread having decreased substantially below the base lending rate (BLR). These factors would make refinancing an attractive form of credit for Malaysians.

Of course, you should try to refinance after your lock-in period is over, when you don’t have to pay a penalty for paying off your loan. Also, consider that the cost of a new loan agreement, which comes with valuations costs, stamp duty, legal fees and other disbursement costs might come up to 2% to 3% of the refinance amount.

imoney’s home loan refinancing calculation tool lists out mortgage deals which are better than your current mortgage, after you key in your outstanding loan amount, remaining loan period and interest rate of your existing home loan. compares between the various loans, savings and insurance schemes available in Malaysia.



A house is a pillar of strength that unites the family, and this collective unit forms the backbone that defines the nation. Since the end of WWII and the beginning of our nation’s independence, the concept of housing has evolved over the years. From the emphasis on practicality and functionality, today's developments amalgamate the concept of living, accessibility, space and functionality into a harmonious union.

The Awards 2019 is here for the fourth time to celebrate the developers and projects that laid the foundations of our nation. If you are interested in participating in the award, register at