All fees vary and are subject to individual bank’s terms and conditions. These are just some common examples of fees to look out for. As mentioned earlier, depending on the interest rate environment and the terms of your current package, it may still be logical to refinance your home loan now despite the fees, providing the interest savings outweigh these fees. a) Cancellation fees You may incur cancellation fees if you were to cancel any undisbursed loan amount. b) Prepayment fees You may incur prepayment fees if you were to refinance or redeem your home loan within the lock - in period. c) Reimbursement fees If you have received any subsidy(legal or valuation) or rebate from your existing bank at the time of taking up the loan, you may need to reimburse partial / full amount of subsidy or rebate that you have received from your existing bank if you are still within the Reimbursement period, which is defined in your mortgage contract with the bank. d) Legal fees For refinancing to another bank, you will be incurring legal fees where it is advisable and cheaper to engage the same lawyer / legal firm to handle your full redemption(including serving a full redemption notice to existing bank) and mortgage documents to refinance with another bank. e) Valuation fees Valuation fees are payable because the bank(which you will be switching to) will need to engage a valuation firm to re - value your residential property prior granting any loan approval to proceed with the refinancing process. f) Conversion fees You may incur conversion fees that are chargeable by your existing bank if you would like to do an internal refinancing.