Word forms: 3rd person singular presenttense refinances, present participle refinancing, past tense, past participle refinanced
verb
If a person or a company refinances a debt or if they refinance, they borrow money in order to pay the debt.
[business]
A loan was arranged to refinance existing debt. [VERB noun]
It can be costly to refinance. [VERB]
Synonyms: take on a loan, borrow, remortgage More Synonyms of refinance
refinance in British English
(ˌriːfaɪˈnæns)
verb
to pay (a debt) by borrowing additional money, thus creating a second debt in order to pay the first
A loan was arranged to refinance existing debt.
It can be costly to refinance.
refinance in American English
(ˌrifəˈnæns; riˈfaɪˌnæns)
verb transitiveWord forms: ˌrefiˈnanced or ˌrefiˈnancing
to finance again; specif., to provide or obtain a new loan or more capital for
refinance in Finance
(rifaɪnæns)
Word forms: (present) refinances, (past) refinanced, (perfect) refinanced, (progressive) refinancing
verb
(Finance: Mortgage)
If a borrower refinances an existing loan, they find a lender who will replace it with a new loan with different terms.
The bank comes under regulatory pressure to get the loans off the books, either byforcing borrowers to refinance them elsewhere or by foreclosing and selling the collateral.
Refinancing rental property when the real estate market is up requires patience from investors.
If a borrower refinances an existing loan, they find a lender who will replace it with a new loan with differentterms.
Word builderre-The prefix re- often appears in words that relate to doing something again.