Refinancing | Home loans Bella Vista, Castle Hill & West Pennant Hills
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Refinancing your home loan
In the current economic climate, refinancing has never been a more popular option for those looking to save money and keep their loan repayments low. Refinancing involves ending your current loan and taking out a new one either with the same lender or a new lender entirely. While refinancing has numerous benefits, it may not be the right solution for everyone. This is why it’s important to get the advice of a mortgage broker that you trust - like Jenny Li - to learn about all your options.
Benefits of refinancing
The obvious benefit of refinancing is that it reduces your repayment amount by reducing interest. However, there are also numerous other benefits. These include
- The ability to consolidate multiple debts
- Accessing new loan features, like offset accounts or redraw
- Unlocking more equity
- Potential to reduce account fees
While there are often costs associated with ending your current loan, generally the benefits outweigh the drawbacks, as you recoup the expenses quickly in savings. Jenny Li will be able to guide you through the process and uncover any hidden switching costs to make sure that you come out on top.
When is the right time to refinance
We recommend checking in on your loan regularly, at least every few years, to make sure that you are getting the best deal possible. It’s also a good idea to review your loan if
- Your fixed rate is ending
- Your financial circumstances have changed
- You aren’t happy with your lender
- You want a different loan structure
- You just want to get a better rate!
Book a free home loan review with Jenny Li, your trusted Castle Hill mortgage broker, to go through your current loan and, if necessary, find you an amazing new loan. Jenny is ready to help you improve your finances!
Home loan calculators
Compare different interest rates, work out how long until your loan is paid off and more with our range of free and simple online tools.
Contact Jenny Li today on 0433 261 056 to learn more about how refinancing could benefit you
Jenny can also assist you with:
- Mortgage Broker Bella Vista
- Mortgage Broker Castle Hill
- Mortgage Broker West Pennant Hills
- First Home Buyer
