another downside...takes around 3-6mths.....and sometimes previous bank takes 4eva to do the work.
Sometimes u cal that the interest saved can offset the penalty....but make sure u minus at least 3-6 mths of interest in your cal. And there are also minor charges like admin charges, time taken to go to the lawyer, developer, bank and etc.

This post has been edited by mIssfROGY: Aug 6 2008, 01:43 AM

I think depends whether u can get the consent of the developer and wheather u can pay up the remaining 25% by yourself, then if everything is ok, u shd be able to refinance.