Mortgage loan refinancing

Reduce costs by refinancing your mortgage!

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Simplified refinancing of mortgage loans

Refinancing of mortgage loan means granting of a new mortgage loan with Urbo bankas to cover an existing mortgage loan with another credit institution. The simplified refinancing service available from 1 February 2025 allows to quickly transfer your mortgage loan under the following terms and conditions without any additional obstacles:

Keeping the outstanding loan balance

Using the same property as collateral

Maintaining the same duration of the loan agreement

Keeping up with your financial obligations under your existing loan agreement (no overdue payments)

Simplified procedure for refinancing a mortgage loan:

No loan agreement fee applied
We will reimburse you for the cost of an independent (external) valuation of the property, if we ask for one, and conclude the loan agreement
We will reimburse the notary fee for confirming a mortgage or a right over the property
We will reimburse the costs of transmitting data to the public register and the fee paid to the public registrar for registering a mortgage or a right over the property in the public register

How to refinance a loan?

1.
Submitting application for refinancing
Fill in the online application form with the loan purpose “Refinancing of mortgage loan” and be sure to attach an electronic copy of the loan agreement to be refinanced to speed up the refinancing process.
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2.
Refinancing valuation
Once the bank has replied about the possibility of refinancing your loan, we will carry out a check of your financial possibilities and provide you with a reply.
3.
Concluding a refinancing agreement
You will conclude and sign a refinancing agreement with Urbo bankas.
4.
Registering a mortgage
You will sign the mortgage documents at a notary.

Frequently asked questions

Yes, when refinancing a mortgage loan under the simplified procedure, a credit assessment will be carried out in the standard way. We assess the amount and sustainability of income, credit history and other existing financial obligations.

If you apply for a simplified refinancing of the mortgage loan but want to increase the loan amount and/ or extend the term of the loan, you will be subject to the standard refinancing conditions and fees.

If you refinance your mortgage loan under the simplified refinancing procedure, there are no additional costs.

The simplified refinancing can be used up to once every 2 years.

Once you have submitted your application and all the required documents, the employee of the Bank will contact you as soon as possible, but no later than within 15 business days.

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