Guide To Refinance
Your lifestyle and goals change with time, so do our home loan rate. A proactive annual review keeps you on the best rate and we broker looks after you, not the bank.
Recently we had helped many clients put around $5-8K saving into their pocket by doing annual review + present the cost benefit analysis before refinance them into a lender that jas a better product that meets their financial needs.
Refinancing can lower your repayments, access equity, or pay off your debts sooner, and we can show you how. With access to a wide range of lenders and 26+ years of experience, we open doors for you and find a smarter loan solution so that the potential savings outweigh the associated refinance fees.
Refinancing refers to the process of paying out your current home loan by taking out a new loan. While this can be with the same lender, it is often changing to an entirely different lending provider will get you a better interest rate, lower fees and more favourable loan terms.
Potential Benefits of Refinancing
Lower Interest Rate
Secure a more favourable interest rate, potentially saving you thousands over the life of your loan.
Secure a more favourable interest rate, potentially saving you thousands over the life of your loan.
Flexible Terms
Switch between fixed and variable interest rates to suit your financial needs and risk tolerance.
Switch between fixed and variable interest rates to suit your financial needs and risk tolerance.
Access Equity
Tap into the equity you’ve built in your home for other investments or expenses.
Tap into the equity you’ve built in your home for other investments or expenses.
Debt Consolidation
Combine high rate debts liked credit card or personal loan into your mortgage, will simplify your finances and potential save you lots of interest payments.
Combine high rate debts liked credit card or personal loan into your mortgage, will simplify your finances and potential save you lots of interest payments.
Loan Features
Unlock beneficial features like fixed rate with offset accounts or redraw facilities.
Unlock beneficial features like fixed rate with offset accounts or redraw facilities.
Cash Rebates
Some lenders offer cash rebates for refinancing, sometimes ranging from $2,888 to $3,000.
Costs
Refinancing Costs
Be aware of potential fees, including application, valuation, discharge, and other charges.
Be aware of potential fees, including application, valuation, discharge, and other charges.
Fixed Rate Exit Fees
If your current mortgage is fixed, expect substantial exit fees, potentially reaching thousands of dollars.
If your current mortgage is fixed, expect substantial exit fees, potentially reaching thousands of dollars.
Credit Score and Property Value
Your credit score and current property value play a significant role in your refinancing options.
Your credit score and current property value play a significant role in your refinancing options.
Interest Rate Outlook
Consider the current and projected interest rate environment before refinancing.
Consider the current and projected interest rate environment before refinancing.
Loan Terms
Carefully review the terms of any new loan offer.
Your credit score, property value, the outlook on interest rates and new loan terms all have a role to play when it comes to determining if refinancing will leave you in a better position or not, so it’s always worth speaking to the professionals before you make the commitment.
Many homeowners/investors put off refinancing out of concern that the process is time consuming or requires a lot of work, it’s not a hard process and the benefits could be substantial.
With The Home Loan Refinance Professionals
Since 2000, we have worked tirelessly in providing over 5,000 Australians with finance options to help turn their dreams into reality.
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