When you first got your home loan, it’s likely you spent time comparing your options to ensure you chose the right mortgage with a competitive interest rate to suit your needs at that time. However, the mortgage market is highly competitive and always changing. The mortgage you chose originally might have been the ideal option for your financial situation then, but is it still meeting your needs today?
Everyone’s financial situations and goals change over time. You might find that your current mortgage no longer offers you the flexibility you want, or it might not provide the features you want to take advantage of. Perhaps your mortgage interest rate is no longer as competitive as it once was.
When things change, it can make good financial sense to consider refinancing your home loan over to a better option.
Here are some of the more common reasons why people choose to refinance their mortgages.
While there are heaps of benefits to refinancing your loan, you need to remember there are costs involved with completing the loan application, switching fees and some government fees to change. In general, these can range from $400-600 for a single property refinance.
The good news is that there are many banks who offer refinance rebates at the moment, and in some cases, we have been able to arrange up to
$2,000 refunded to our refinance clients on the settlement to cover the costs of switching (and leave them with some money left over)!
Our in-house mortgage broking service makes your mortgage and lending needs so much easier, minimising the discord between accountant,
lender and product advice.
We'd love to help you find the best loan for your needs.
If your current lender is not prepared to give you a better deal then it might be well worth taking the time to speak with a mortgage broker to find a lender that will. Here’s how to refinance your current home loan.
In the past 12 months we have seen record numbers taking out fixed-rate home loans. Particularly during COVID-19 times, it's worth considering what might happen with interest rates in the future and whether that means you too should think about a fixed-rate home loan.
The RBA has made it known that interest rates are likely to stay low for a while yet; however, there is increasing evidence to suggest that they will need to rise sooner rather than later.
Whether you’re a first-time home buyer looking to find your feet or a refinancer looking for certainty, there are clearly several factors to consider when shopping for a home loan.
Buying a residential property versus purchasing an investment property involves entirely different considerations. Here are the vital criteria to be on look-out for when selecting the right home loan for your investment property purchase.
A mortgage offset account is among the top home loan features available. And using one correctly can significantly impact your monthly repayments and how much you end up paying for your loan.
ONLINE Webinar Session
27 July // 1:00PM
There are a few changes earmarked for superannuation commencing 1 July 2021. These changes will impact both employers and employees. Read the details here to know what's expected.
There are several reasons motivating homeowners to refinance. It could be to achieve a lower interest rate or move from a fixed rate to a variable rate loan or vice-versa. If you’re thinking about switching loans, you need to consider the costs of any penalties – if relevant – versus any savings you stand to make.