Is using a mortgage loan to replace a home loan mortgage reliable?

PortfolioAlert

2026-03-12 05:45:38

I recently received a call claiming:

Annual interest rate of 2.2%, lower than a mortgage at 3.0%
Can be done as long as you have a mortgage
Loan term can be up to 20 years
Interest-only payments first, then principal, with early repayment available
Interest rate follows the LPR
Also requires signing with a bank and obtaining an individual business license
They are just an intermediary, charging a commission of 0.8% of the principal

Are there any pitfalls? Does anyone know more about this?

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