Home Loan Refinancing
Refinancing your home every two to three years could help you reduce monthly repayments, consolidate debts or even unlock equity in your property.
Refinancing your home loan could help you reduce monthly repayments, consolidate debts or even unlock equity in your property.
What is refinancing?
Refinancing your loan simply means moving your loan from one lender to another to get a lower interest rate. Refinancing allows you to reduce your monthly loan repayments and pay off your loan sooner.
Why do I need to refinance?
You’ve probably noticed that the banks don’t always pass on the full interest rate cuts when they’re announced. This is because when the interest rates fluctuate, lenders reduce the rate for new home loan customers but don’t reduce it for their existing customers. Sometimes, they’ll even increase your home loan above the best rate in the market over time. Find out more about how refinancing works, and why you need to refinance here.
When is the best time to refinance?
You should be reviewing your mortgage every three years to make sure it’s still suitable for your situation (and to keep the banks honest!). What you were able to negotiate in the beginning can always be re-negotiated along the way.
How we can help
Our team of expert Adelaide refinancing advisors would love to talk to you about securing the best loan terms and rate for your circumstances. We will:
- Review your current mortgage and discuss your individual requirements to identify if the mortgage is still suitable
- Review other lenders and offers
- Get a better interest rate from your existing bank, or refinance to another lender if your bank won’t come to the party
- Arrange the mortgage from application to settlement
- Offer financial planning and debt reduction strategies
- Advise and implement ‘Smart Debt Management’ to help you pay off your debt sooner