Why Refinance?
With interest rates on the rise, we are seeing more and more people undertake health checks on their home loans. This ensures you still have a low competitive interest rate, features that suit your requirements, low fees and essentially a home loan that is tailored to your individual circumstances.
Changing interest rates affects your borrowing power, the amount of interest paid over the life of your loan and can alter your monthly mortgage repayments. This can have a great impact on your overall financial situation and the lifestyle you live. Comparing interest rates in the current market seems complicated. How do you know what lender suits you? Our job as qualified Mortgage and Finance Brokers is to help you get the most out of your home loan and save you money. This is where refinancing could benefit you!
What does this mean for my loan?
There are many positives to refinancing your home loan and here’s what it means for you.
- Potentially saving yourself thousands in interest paid over the life of the loan by securing a lower, more competitive interest rate
- It may be a good time to re-evaluate any existing debts you may have and consider consolidating them into one loan. This makes for easier repayments from one source
- Access equity in home, giving you the ability to purchase another investment property and/or renovate your existing home
- Switch your loan to a lender that better reflets your individual lifestyle and financial circumstances
- Locking in your interest rate with set payments for a period of time
Advantages
Here at Financia, we understand the importance of having a home loan that’s tailored to you and your needs!
Having the time and resources to find what lender will best suit you and your financial situation can be difficult, however, our commitment to you is to work closely together for a successful outcome. As interest rates are on the rise, we are committed to finding the lowest interest rate for you and your loan.
We believe continuity is highly important, and therefore, we do our best to touch base with you every two to three years and provide a health check on your loans to ensure you are still currently in the best position.
If you are ready to look at refinancing your home loans, or wish to undertake a general health check, get in touch with us today to learn more!
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
