Refinancing
If there’s one financial product that has a big impact on our lives it’s our home loan. So it’s good to know that you have the freedom to switch between different lenders & products even after you have settled your initial loan.
If there’s one financial product that has a big impact on our lives it’s our home loan.
To put yourself ahead financially, you can switch from one loan/lender to another.
Banks are competitive & the industry changes quickly, so chances are there are some great rates or features that weren't available to you before.
It’s good to know that you have the freedom to switch between different lenders & products, “as you life changes, so should your home loan.”
It all starts with a FREE Home Loan Health Check
Step One:
Our review will compare your current home loan with hundreds of others to see if we can find you a better deal. It only takes a few minutes and could save you a lot of money!
A lower interest rate could save you money | Find out with our home loan calculators
We’ll take into consideration your current circumstances, your current repayments, the outstanding balance and whatever else you mention as part of this review.
If we feel that your loan is no longer suitable or we find a better offering, we may be able to help you refinance to a new lender or reprice with your current lender for a better loan.
There are many reasons why you might consider refinancing such as securing a better interest rate or getting cash out of your loan.
The process and timeline is similar to your original loan, and we typically require the same documents.
It is important to consider both the benefits and costs of refinancing.
Benefits
- Secure a better interest rate
- Access home equity
- Consolidate debts
- Taking advantage of different loan features
Costs
- Exit fees
- Borrowing costs
- Lenders Mortgage Insurance (LMI)
- Stamp duty
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Contact Peter Machell and the team at Mortgage Choice on 03 5427 4262 or email peter.f.machell@mortgagechoice.com.au