Why Refinance your Home Loan?
You may want to refinance your home loan for the following reasons:
- Get a lower interest rate: You could potentially save up to $3000 annually
- Obtain new loan features: There could be new, improved or flexible loan features that you would prefer to have. Features like an offset account, a redraw facility or flexible repayment options can be attractive for many borrowers if they want to save money, reduce their repayment amounts and make their loan easier to manage. We can set up redraw facility, an offset account and a debit ATM card for variable rate home loans.
- To switch between different types of loans: You may want to change the type of loan you have, whether it is from variable to fixed, or from Owner Occupied to an Investment loan.
- Access equity: You may want to refinance to access equity for other purposes, such as investing in a new property or car.
- Consolidate debt: By refinancing, you may be able to combine multiple short term debts e.g credit card debts and repay this with a lower interest rate.
Refinancing costs
There are various costs involved with refinancing your home loan. You will also need to be aware of registration fees involved and whether you will need to pay for Lenders Mortgage Insurance. For any additional queries, please feel free to contact us on 0418174003.