Outgoing bank

So your refinance is approved. You're about to settle on your new refinance next week and your current bank gives you a call. We can match your rate, we can get you better facilities, we can get the top up you need. Hey, it's Aaron from Diagnostics and Finance. And what do you do when that bank that you've been with and you're refinancing from gives you a call? Well, this is a common thing that occurs with a couple of the banks, especially with the ones that you need to ring them up to get the discharge letter. You might be refinancing for price, better deal, better terms, conditions, save some interest. You might be refinancing because you need a particular product where that particular bank doesn't allow. You might be uncrossing securities. You may want better facilities, you might want branch access, you may not need branch access and you want to get into the online space and save a bit more money. So how do we deal with this one is you need to know what your reason is for refinancing. They're going to call you up. You can then just mention, hey, I'm using a broker, let's just get on with the refinance. And this is where my goals are going. The next thing you could probably do is your broker may have access to some banks that allow a thing called fast refi, which means you can get your loan approved. You sign off on your documents and the refinance just happens. Then they'll follow up with the discharge request and the changes securities. But what will happen then is that when the retention team calls you, your loan is paid out to zero. So there's not much for them to do other than let the refinance go through. So when your bank calls you when you're refinancing, make sure you've got your reasons, make sure you've talked to your broker before that happens and make sure you are achieving your goals of whatever you want versus their goals of keeping you in the loan that you're in. Alright, it's Aaron from Diagnostics and Finance. Talk soon.