Refinancing
Things to Consider Before Refinancing
Your life never stands still, and neither should your mortgage. If change is afoot, it might be time to search for a more suitable home loan.
Did you know that while the RBA might not have put the official interest rate up since 2016, many lenders have slowly and quietly increased their interest rates anyway? The lending market is more competitive than ever before and there are new loan options coming out regularly.
It is worthwhile to once a year revise your home loan to ensure that your current loan is working in the way you want it to and that your loan is still competitive in terms of interest rates and fees.
Refinancing your loan may allow you to:- Obtain a better interest rate
- Reduce your monthly repayments
- Borrow additional amounts to cater for lifestyle choices e.g. home improvements, a new car, holidays, investments or consolidating debt
By considering these options, you can save thousands of dollars by paying less interest overall or lower monthly payments.
To better understand your borrowing options please contact Elite Finance Professionals on 0437 404 445, for an obligation free assessment of your situation.