An internal refinance may be required in some scenarios related to changes to the product, security or to the borrowers/guarantors of the loan.
Some common examples where an internal refinance may be required include:
- An increase on a loan that has a BSB starting with 183 (or previously 032)
- An increase on a construction loan
- An increase when the borrower doesn't permanently reside in Australia
- Adding a borrower to an existing loan
- Adding a security to an existing loan
- An increase on a home loan which has guarantors.