If I refinance do I need to switch my cheque accounts and credit cards to the new lender?
No you do not need to move all your accounts to your new lender. For basic home loans and fixed rate home loans there is usually no problem with keeping your current bank accounts. For line of credit or professional package loans you can keep your current accounts if you want to however there are usually strong benefits associated with switching everything to the new bank. This is because for a line of credit all your transactions revolve around your loan account and for a professional package the bank will often give you a fee free credit card and cheque account.
