Key Details
PurposeLower rate, reduce repayments, equity release
ProcessExisting loan paid out
CostsBreak fees may apply
EligibilityGood equity position helps
TrailersAll trailer types
Common Questions
Refinancing makes sense when interest rates have dropped since your original loan, when you want to reduce monthly repayments, when you need to release equity, or when your financial position has improved and better terms are available.
Costs include any break fees on the existing loan and establishment fees on the new loan. Your broker will model whether the savings justify these costs before proceeding.
If your trailer is worth more than you owe, you can refinance at a higher amount and receive the difference — sometimes used to fund additional equipment purchases.