We are here to assist you in refinancing your Home Loan or Investment Loan.
Refinancing a loan is a common strategy our clients use to lower interest payments on their home or investment loans. Whether transitioning from a fixed rate period or currently on a variable rate, there are often superior loan options available. With access to a wide array of loan products from various lenders nationwide, including major banks, credit unions, and building societies, we are well-equipped to find a more favourable loan for you.
As your property gains value over time, the increased equity can be leveraged to secure a larger loan amount. These additional funds can be allocated towards home improvements, debt consolidation, or other investment opportunities. Additionally, refinancing enables borrowers to merge multiple loans into a single one, simplifying financial management and potentially reducing overall interest expenses. We can guide you in comprehending any incurred break costs or exit fees linked to your current loan, ensuring you have a clear understanding of potential savings through refinancing.
One of the main reasons to refinance is to secure a lower interest rate, which can reduce your monthly payments and save money over the life of the loan. However, it's also important to evaluate the loan term and decide between fixed vs. variable rate options. These changes can impact your overall financial strategy, so consider how they align with your long-term goals. Refinancing from a principal and interest loan to a different structure may offer flexibility or better terms depending on your situation.
Refinancing often involves fees such as application fees, valuation costs, and discharge fees. It's crucial to calculate the total fees and charges payable and compare them against the potential savings. If the costs of refinancing outweigh the benefits, such as a lower interest rate, refinancing may not be the best option. Make sure to review the full terms and conditions before proceeding.
When refinancing, consider how much equity you have in your property. Increased equity can help you access better loan amounts or even cash out for other investments. Whether you're looking to reduce debt, invest, or improve cash flow, ensure that the refinancing aligns with your financial goals and long-term plans. Refinancing your home loan can also help consolidate debt, providing a clearer path to reaching your financial objectives.
2024 / Mortgage Brokers Co. Jackson McCarthy is a credit representative (488785) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237)
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does notconstitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
