1) Why should you shift? Most borrowers shift their home loans from one lender to another because of a significant difference between the rate that their bank/housing finance company is charging its old customers vis-a-vis the one being levied on the new customers.
A difference in rates might also arise between your lender and others. If significant savings can be made, a shift is advisable. If a customer finds it difficult to pay the EMI, he may want the lender to increase the tenure to reduce the instalment. If the current lender refuses, the customer can shift to another. Poor service standards also warrant a shift.
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