refinance re‧fi‧nance [ˌriːˈfaɪnæns, -fɪˈnæns] verb [transitive]
FINANCE to replace one loan with another one, usually at a lower rate of interest:
• Many fixed-rate mortgages are now being refinanced at interest rates of around 8%.
— refinancing noun [countable, uncountable] :
• The troubled DIY group has been in talks with its bankers arranging a refinancing of the £553 million loan taken out at the time of the management buy-out.
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refinance UK US /ˌriːˈfaɪnæns/ verb [I or T]
► FINANCE to replace a loan with a new one: refinance sth with sth »
The firm refinanced its bank loans with $150 million of 30-year bonds.
»refinance a loan/debt/mortgage
»refinance your home/car
»Penalties for early mortgage repayment often make it prohibitively expensive for people to refinance.
Financial and business terms. 2012.