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Thinking it’s time to move on?

If you’ve had your current home loan for a number of years, it’s likely your needs have changed, or that your loan may not have flexible features or add-ons that have since become available. It may just simply be that there’s better rate options you can take advantage of. If so, it’s probably time to move on …

Refinancing replaces your current mortgage with a new one, adjusting the rate, term (or both) or the lender. You may wish to refinance to lower your monthly payment, save money on interest over the life of your loan, pay your mortgage off sooner, or draw from your home’s equity if you need cash.

If you’ve had your current home loan for a number of years, it’s likely your needs have changed, or that your loan may not have flexible features or add-ons that have since become available.

Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both or lenders. You can refinance to allow you to lower your monthly payment, save money on interest over the life of your loan, pay your mortgage off sooner or draw from your home’s equity if you need cash.

Key areas to think about

Here’s some simple guidance on refinancing

STATUS UPDATE

What is your current rate? Who is your current lender? Did you fix in 2021 and are enjoying 2%, or are you paying upwards of 6.5/7% and thinking refinancing is too hard …? Changing lenders shouldn’t be unnecessarily complicated. We can help you compare your options.

WHAT FITS BEST?

What’s driving the change, and what type of refinancing are you after? There are many different types, so consider each within the context of your unique financial situation. Be clear if your goal is to adopt a shorter loan term or lower monthly payments, so you’ll know what loan product suits best.

SHOP AROUND

A “Loyalty Tax” … did your bank try and offer you a competitive rate? Unless you’ve contacted other banks, you don’t really know… we can help you compare options, even if you’re only just exploring the idea. After all, you don’t know what you don’t know…

How we can help

Some of the ways you can leverage our expertise when it comes to refinancing

1

Consolidate debt?

Do you want to consolidate debt?

A refinance can be an opportunity to consolidate debts such as a personal loan, car loan, or credit card into your mortgage, so that it’s easier to manage your finances with a single payment.

2

Understand charges

Banks thrive on people not fully understanding their fees and charges. We’re here to help give you clarity on the upfront and ongoing costs associated with exiting your current loan and switching to a new one. These may include a settlement fee, loan establishment fee, mortgage registration fee, loan service, and/or exit fees and charges. We’ll help you understand whether there’s any net benefit, and if so how much.

 

3

Other lenders

There are so many options out there, you’ll find it hard to compare if you’re going through them on your own. But for us, we live and breathe mortgages every day. It’s our job to be across what’s out there, who has what deals and what features, and even where you’re likely to receive faster approvals. We can then narrow down the options and present you with the benefits and drawbacks of each loan option, so you can find the best fit for your circumstances.

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Calculator

Honestly, we're mixed on loan calculators. Why? Because they're a great way to get a quick idea about loan affordability – but at the same time, there are a range of other costs associated with loans, and calculators don't take these into account.

So, feel free to have a play with the below. But for a true understanding of the best loan for you, let's have a chat.

WE’LL HELP YOU REALISE WHAT’S POSSIBLE.

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