When was the last time you reviewed your home loan? It may be time to refinance your home loan
Our biggest piece of advice when it comes to finding a home loan is to shop around, and the best part is that we'll do the shopping around for you.
If you’ve been with your current lender for a while, you may not be getting the best rate on your home loan. While some lenders reserve their best interest rates for new customers, it’s easy for them to forget about their existing customers who aren’t asking for discounts. This is why it's really important to reach out to your Mortgage Broker, Brooke Alexander to discuss your options.
The process for refinancing a mortgage isn’t as complicated as you might think and it's important that you review your interest rate every 2 years to ensure it's still competitive within the market. Some of the main benefits of refinancing your home loan include:
- Obtain a new loan with a lower rate or more appropriate features
- Save on interest repayments
- Consolidate your debts
- Increase your loan amount or access equity for other personal and financial goals.
How do I know if I should refinance my mortgage?
There may be many reasons why you're thinking about refinancing your home loan, but some of the most common reasons include: if you want to reduce your home loan interest rate, if you're unhappy with your current lender, to consolidate debt, to fund a home renovation or extension, or to fund a big purchase (such as a car) at a lower interest rate.
If any of these reasons sound relatable then it's probably worth reaching out to Mortgage Broker Brooke Alexander to review your current home loan. Refinancing your home loan could save you thousands and reduce your loan term.
As your mortgage broker in Beaumaris, Mentone and Highett, Brooke will compare your current home loan against hundreds of others to see if we can get you a better deal. Brooke has access to a wide selection of lenders including the big banks and a range of specialist lenders too.
If you would like to find out more, then lock in a time with Brooke Alexander this week to discuss your situation.
Your guide to refinancing
Our free guide to refinancing is packed full of information about the process, the costs vs savings, how to compare interest rates and so much more! If you're trying to find a way to lower your repayments or use your equity to invest in property, then you will find this guide extremely helpful.
If you would like Brooke to organise a free home loan health check for your mortgage, just get in touch this week - 0401 134 650.
Brooke can help you with:
- Mortgage Brokers Beaumaris
- Mortgage Brokers Mentone
- Mortgage Brokers Highett
- First Home Buyer Loans
- Investment Loans
