Yeappers, refinancing is another way.

But TS, u still gotto pay penalty, make sure your new bank or existing bank can offer u higher amount for your house and with better rates and not forgetting, with a higher loan, you will have to pay higher mortgage monthly.

Oh ya, and if your bank still havent finish releasing money to the developer (usually is the last 2.5% because strata title not out yet), u will have to settle that 1st be4 the developer will let you off the hook. PLus got lawyer fees if u are refinancing with a Non-zero moving loan, and also got soma admin charges and etc. Make sure u do all the homework needed 1st be4 refinancing.