Can refinancing save me money?
We can help you find out if there is money to be saved by refinancing. With interest rates at record lows now is the time to see if you are getting the best deal possible from your bank. Refinancing with your current bank isn’t always in your best interest. Lenders generally offer amazing deals to ‘new to bank’ clients which can result is lower rates than you current bank may offer.
What is the benefit of refinancing?
Aside from potentially securing a lower rate and/or less fees you may have other debts you would like to consolidate to minimise your repayments. Consolidating debts such as credit cards, personal loans or car loans in to your mortgage can be beneficial if done correctly.
Do you want to renovate your current property? We can advise you how much available equity you currently have in your property and what your options are, whilst remaining independent. We have had many clients refinance for renovations and actually end up paying less on their monthly repayments due to the lower rate we have been able to negotiate for them.
Could this be you? Fill out our enquiry form and one of our mortgage brokers will be in contact to discuss your options.
Are there costs involved in refinancing?
There are costs involved with refinancing your home loan to a different bank. Firstly, the bank you are currently with will charge you a discharge fee. On average this fee is generally around $350. On top of your discharge fee there are government fees totalling $262.30 (approx.). Your new bank may also charge application or establishment fees. Although rare, I always advise clients to allow $1,000 for costs associated with refinancing.
Need more help? Leverage off our contacts
If you’re struggling to find other services such as a solicitor/conveyancer, insurance, building and pest inspector, qualified tradesmen for potential renovations, or even a buyer’s agent, we can help assist by putting you in touch with some local businesses we trust.