Refinancing your Loan

With interest rates increasing, if you are coming off a fixed interest loan or just haven’t reviewed your loan, you could be in danger of paying too much for your loan.

Reviewing your home loan every couple of years can save you money and help to ensure its always suited to your financial situation and needs.

Refinancing to get a better deal on your loan

Secure a lower interest rate

The interest rate you pay can have a big impact on how much you pay on your mortgage. A lower rate of even 0.25% could save you thousands of dollars.

If your home loan is coming off a fixed interest rate soon or you feel you are paying too much for your current loan, contact us today to discuss your options and secure a better deal.

A lower interest rate may mean more in fees, this is where we can provide expert advice on the loan which will best meet your needs.

Pay less in fees

You may be paying too much in fees, which means you may be paying more for your mortgage than you need to, such as an offset account that you pay for in annual fees, but do not use to realise the benefits.

Refinancing to a fee free or low fee home loan may help here.

Get in touch today

Life is full of changes

If you’ve had a home loan for some time, chances are your circumstances may have changed. Getting married, a growing family, getting a promotion or a new job may mean your home loan no longer meets you current needs or finance goals. This is where refinancing can help ensure your home loan is right for you and your personal situation.

Pay off your loan sooner

Are you in a position to pay extra on your loan? Paying above the minimum can mean you reduce your interest payable and pay off your loan early.

It is also possible to structure your loan and get more out of it by accessing features such as an offset account or redraw facility. By paying your salary into your offset account you reduce the interest you pay on your mortgage each month. A redraw facility allows you to access additional payments you’ve made.

Pay off your loan sooner

Are you in a position to pay extra on your loan? Paying above the minimum can mean you reduce your interest payable and pay off your loan early.

It is also possible to structure your loan and get more out of it by accessing features such as an offset account or redraw facility. By paying your salary into your offset account you reduce the interest you pay on your mortgage each month. A redraw facility allows you to access additional payments you’ve made.

Access equity for investment or other purchases

If you’ve been paying down your mortgage and your home has experienced home value growth, you may have a significant amount of equity in your home.

If you want to access your home equity, you can do this through refinancing.

You can use your equity to fund other purchases, such as

  • Put down a deposit on an investment property
  • Pay for home renovations
  • Purchase a car or overseas holiday
  • Invest in shares