Banks and financial institutes are competing with attractive offers to encourage switching home loan. Borrowers can switch home loan to cheaper loans and save good amount in a month. Stable government has inspired and increased hope of investors and property buyers. RBI has brought down key policy rates drastically to bring balance in the economic slump and increasing borrowing.
Refinancing is transferring or switching your home loan from existing lender to new lender. Refinancing of home loan is also known as Balance Transfer or switching of loan. When refinancing or balance transfer, borrower transfers his outstanding home loan from one lender to another.
Property registration has become easy and there will be uniformity across the state. The discretionary powers given to sub-registrar have been removed. New guidelines have been issued which contains information on documents required for registration.