Refinancing to Access Better Home Loan Deals
Refinancing your home loan could allow you to access cheaper rates, new options such as offset accounts, or even allow you to unlock additional equity in your home to renovate, buy an investment property or consolidate debt. When considering whether or not to refinance it is important to assess the long term benefits against the actual costs of refinancing. Get an assessment of how much switching loans could cost you from your local mortgage broker.
Points to Consider When Refinancing Your Home Loan
There are a number of points that you need to consider before refinancing your home loan:
- Does your lender charge any exit or deferred establishment fees that you will be required to pay when you switch loans?
- What are the establishment fees on the new loan and are there any specials you could benefit from?
- Is enough equity available in your property to go ahead?
- If you are refinancing to a fixed loan or a honeymoon loan, what will the repayments be once the interest rate reverts?
Free Confidential Assessment of Your Existing Loans
To get a free professional analysis of your existing loans, simply submit this form or call us at anytime on 13 LOAN. We will confidentially compare your current interest rates and loan structures to the best deals in the market.
If you are considering refinancing make sure you do your research and talk to your local mortgage broker about your refinancing options.
Costs of Refinancing Your Home loan
To ensure that the costs of refinancing will not outweigh the benefits of the new loan, conduct a comprehensive assessment of your finance situation. For an assessment of your current home loan or to talk to a mortgage broker about home loan options that are in your best interest, call us on 13 LOAN (or +61 2 9249 3739 for international callers) or email us the form on this page and we will return your contact within 2 business hours.
When Should You Consider Refinancing Your Home Loan?
Apart from accessing cheaper interest rates and new products, there are a number of reasons why people opt to refinance their home loans. Most people will consider refinancing to:
- Borrow more money to renovate, invest or for business.
- Consolidate separate loans (car, personal, business).
- Take advantage of lower priced loans or better structured loans in the market.
More information and home loan help
For more information on how and where to find a better home loan deal from an extensive panel of Australian banks and secure mortgage lenders, or to speak to your local area mortgage expert, contact us on 13 LOAN (direct +61 2 9249 3739)
