Refinancing and Debt Consolidation
Your life never stands still, and neither should your mortgage.
Your home loan might have been right for you when you took out your mortgage, but as your life changes, so do your lending requirements and it might be time to search for a more suitable product.
You may be able to refinance and find a loan that’s more appropriate for your needs, with more suitable features and a competitive interest rate to match.
There are now more alternatives than mainstream bank products available that may better suit your needs and personal situation.
If you feel that your loan is no longer right for you, speak with Your Home Loan Consultant to discuss your options.
Are your finances stressing you out and causing you to...
Switch lenders for a better home loan deal.
Imagine if you could eliminate your financial stress and...
And enjoy that restaurant, that holiday, and other leisure activities you dream about!
The good news is, it’s all possible — even if you’re overwhelmed by debt right now. And having positive cash flow and financial security is easier than you think.
Why consider Refinancing and /or Consolidating your Debts?
Pay off your mortgage faster!
If you’re striving to be mortgage-free, there’s a good chance there may be a more appropriate home loan product to meet your needs.
Some mortgage products are designed to motivate borrowers to repay their mortgages quickly.
So now is the perfect time to talk to your mortgage broker and consider whether a new loan will see you on the road to financial freedom – fast!
Better interest rates and lower repayments
Rates and mortgage deals are constantly on the move.
To make the most of a competitive mortgage market, you might want to evaluate the loan product you currently have.
For example, you may want a lower variable-rate or lock into a fixed-rate.
Break costs can be expensive though, so you’ll need to check that you’ll come out ahead when all costs are considered.
Consolidate your debts
Consolidating your debts, such as credit cards or personal loans, into your home loan can save you thousands of dollars in interest charges.
Rolling your debts into one monthly or fortnightly repayment can also help make juggling your finances a little easier while improving your cash flow.
Avoid monthly fees and charges
Some lenders charge a monthly service fee – further adding to your debt.
Competition between lenders has increased and some now waive administration fees, so refinancing your home loan with another provider can be a smart move to help cut your mortgage costs.
Another benefit of refinancing your home loan is it gives you an opportunity to restructure you home loan, for future purposes and to access your equity.
As you pay off your mortgage you’ll accumulate equity in your home. You can then use your equity for other purposes such as purchasing an investment property.
As long as you are capable of meeting your loan repayments, refinancing your mortgage can help you tap into the equity that you’ve built up.