Hi there
I was with my OLD LENDER few months ago before I refinanced to the new lender due to better rate and cashback.
Is it a possibility to refinance again to my OLD LENDER as they have got the better rate than my existing lender?
Would that be a problem?
Going back makes people look cheap.
umm… this is ozbargain, you think people here are afraid to look cheap?
You think a bank cares about you, and why would you care what a bank thinks of you..
You're a number on a balance sheet.
Have you asked your NEW LENDER to improve their rate? Tell them before you apply with your OLD LENDER
No. I haven't asked my NEW LENDER to offer the better rate. However, the OLD LENDER got the cashback offer. So i will be better off with them.
If you think you'll be better off with the OLD LENDER approach them and ask.
No loyalty is expected or recognised nowadays with financial institutions.
True. I will be in the money if I go back to OLD LENDER and avail the cashback.
My only concern is that they might reject it given I moved out 4 months ago. And that would left an unnecessary credit inquiry on my file.
Seems unlikely you would come out in front of refinance and gov fees after only 4 mths since you're last refinance
I had cash back with my existing lender and my loan isnt big.. So i am already ahead from a net position.
How much will you save?
(How much will it cost?)
Why not just ask your current lender to match the old lender rate?