Ben Williams

Refinancing your Loan | Mortgage Broker Richmond & Hawthorn

Refinancing is the process of paying out your existing loan with a new one. It can allow you to take advantage of lower interest rates, better features or improved loan term. In the current environment of rising rates, it's important to make sure you're checking your home loan regularly to make sure it's still competitive. The Mortgage Broker Richmond team can help!

When should I consider refinancing?

Refinancing your home loan to a better deal can deliver considerable benefits. In the current market, we recommend reviewing your home loan every 12 months, to ensure that your home loan is still competitive and suits you. It would be a great time to refinance if you:

are coming to the end of a fixed rate term
are looking for a lower interest rate or better features
haven't reviewed your home loan in more than 12 months
would like to renovate or invest using equity in your home
would like to explore consolidating smaller debts into your home loan

Compare interest rates

Our free Home Loan Review

The first step is to figure out if there is a home loan on the market that would be worth refinancing to. Book a free Home Loan Review with our team and we will review your current home loan, comparing it with thousands of available loans to see if we can find you a better deal.

Our Mortgage Broker Richmond team will look for a lower interest rate, better features or a cashback offer. We will then talk you through the benefits and costs of switching to ensure it will be better for your finances in the long run.

Book a Home Loan Review

Why we're passionate about refinancing

We know that banks can get lazy with their existing customers! In fact, many lenders will offer a lower interest rate to new customers than they do to existing customers. Refinancing allows you to 'play the field' with your home loan and potentially save years off your loan term.

At Mortgage Choice in Richmond, we have the lovely Diane onboard exclusively to review our customer's home loans and negotiate with lenders to see if we can get the interest rate down. Find out more about what Diane does for our customer's below.