The only way to cut down your finance period by refinancing is if:

a. You refinance only the outstanding loan amount and not add any cash-out from the refinancing exercise
b. the interest rate is lower than the current interest rate
c. legal fees is not financed into the financing as this will increase the total loan amount. You should pay it off out of pocket.

What is your current interest rate and outstanding balance?

a. Understood
b. That is pretty high, even with the ups and downs of the BLR, the effective rates for the past 10 years have never reached 7%. Right now, at 110k loan amount, at 4.5% financing rate, you are saving about 2.5% per annum by refinancing
c. The legal fees should be about 4 to 5k depending on the title details (strata vs individual, leasehold vs freehold, master vs without title). At this rate, financing it into the loan may be wise.

Tenure will be set to maximum, but with flexi facility, any money that you pay extra on top of your installment will be used to offset the interest payable on a daily basis.

Let me know if you want to proceed, we can discuss your situation privately.