Why refinance your loan
Refinance to
Pay off your mortgage faster​
If you’re striving to be mortgage free, there’s a good chance there may be a more appropriate product to meet your needs.
Some mortgage products are designed to motivate borrowers to repay their mortgages quickly, so now is the perfect time to talk to your mortgage broker. A new loan could set you on the road to financial freedom – fast!
Refinance to
Reduce your repayments
Rates and mortgage deals are constantly on the move. To make the most of a competitive mortgage market, you might want to evaluate the loan product you currently have.
For example, you may want to go for a lower variable-rate, or lock into a fixed-rate. Break costs can be expensive though, so you’ll need to check that you’ll come out ahead when all costs are considered.
For example, you may want to go for a lower variable-rate, or lock into a fixed-rate. Break costs can be expensive though, so you’ll need to check that you’ll come out ahead when all costs are considered.
Refinance to
Consolidate your debts
Consolidating your debts, such as credit cards or personal loans, into your home loan can save you thousands of dollars in interest charges.
Rolling your debts into one monthly or fortnightly repayment can also help make juggling your finances a little easier, while improving your cash flow.
Rolling your debts into one monthly or fortnightly repayment can also help make juggling your finances a little easier, while improving your cash flow.
Refinance to
Avoid fees and charges
Some lenders charge a monthly service fee – further adding to your debt.
Competition between lenders has increased and some now waive administration fees, so refinancing your home loan with another provider can be a smart move to help cut your mortgage costs.
You should check with your lender to see if there are applicable break costs before switching loans.
Competition between lenders has increased and some now waive administration fees, so refinancing your home loan with another provider can be a smart move to help cut your mortgage costs.
You should check with your lender to see if there are applicable break costs before switching loans.
Refinance to
Unlock equity
As you pay off your mortgage you’ll accumulate equity in your home.
As long as you are capable of meeting your loan repayments, refinancing your mortgage can help you tap into the value that you’ve built up, using it for other purposes such as purchasing an investment property.
Refinance for
Peace of mind
Have a mortgage broker health check your exisiting home loan to ensure it’s the right product for you.
With so many options out there and the market changing so often, we recommend visiting your home loan every two years.