Refinancing & debt consolidation | Richmond, Pitt Town and Bligh Park
Rates are being cut everywhere you look at the moment, but does this mean you could save?
Refinancing & debt consolidation are powerful tools available to homeowners that can be leveraged to save a great deal of money. You can trust Andrew Heath and the experienced team at Mortgage Choice Richmond in realizing the best results possible for your situation.
As your local home loan expert, we have access to hundreds of loans from a wide choice of leading lenders, including Australia’s big banks and a selection of specialist lenders. We're happy to provide a free review of your current home loan.
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What is refinancing?
In short, refinancing is when you change your home loan in order to suit your current circumstances. Everyone’s financial circumstances change from time to time, and when that happens, being able to refinance is critical in helping you to pay off your mortgage with a minimum of financial stress.
We recommend that you take a look at your mortgage annually with a Home Loan Health Check, and then consider refinancing. All existing and non-existing clients of Mortgage Choice Richmond are eligible to have a free Home Loan Health Check. If you haven’t had your home loan reviewed in the last two years or you are approaching the end of your fixed-rate period, you should reach out to our team of brokers in Richmond, Pitt Town and Bligh Park and discuss your options.
Why would I refinance?
There are a number of reasons that people refinance, but a couple of the most popular reasons include:
- Paying off debts such as credit cards by rolling them into the home loan.
- Getting a cheaper rate on the home loan, especially when features on the current loan are no longer needed or wanted,
- To access some extra cash, for renovations, to buy a car, or even take a holiday.
- To switch from a variable-rate to a fixed rate, which might be a wise thing to do, depending on the economic conditions.
How do I refinance
It’s very easy to refinance. Richmond, Windsor and surrounding areas residents can easily make an appointment with Andrew Heath to discuss why they’re looking to refinance and what they would like to achieve with it. Andrew will then research the best options available, and come back with expert advice, tailored completely to your individual circumstances.
Refinancing to consolidate debt
If you have more than one loan, it may be a good idea to roll them into one consolidated loan. A debt consolidation home loan is when you combine your outstanding debts under your existing home loan.
Instead of paying off each individual loan (personal, car or credit card) at different interest rates, you pay off all your debts with one regular repayment. Learn more about consolidating your debt by refinancing your home loan in our short video below.
Tools for refinancing
Our team of Mortgage Brokers in Richmond, Pitt Town and Bligh Park have a range of resources & tools to help you feel confident through the refinancing process. Check out some of our free resources below.
If you're looking to save money or if you need an experienced Mortgage Broker, then please call our office on 02 4578 9904.
We can also help you with:
- Mortgage Brokers Pitt Town
- Mortgage Brokers Bligh Park
- Mortgage Brokers Richmond
- First Home Buyers
- Property Investment