Let your local Mortgage Broker Spring Clean your Home Loan

November 14, 2014
Annette Kennedy

 With today’s constantly changing range of lenders and products, together with ever-changing personal circumstances it is recommended you assess whether your home loan is still the one for you at least every 2-3 years.

There are many factors to consider before refinancing.  Will you incur a break fee or new application fees, mortgage insurance or higher account fees?  Does the new product allow you to access all the features that are important to you such as extra repayments, offset accounts and redraw facilities?


Some reasons people refinance include


  • Increase the amount of money at hand for day to day living


  • Consolidate debts, potentially  taking advantage of a lower interest rate and saving dollars


  • Increase the loan amount to buy an investment property  or shares


  • Carry out renovations


  • Increase the loan amount to access funds for personal goods such as a new vehicle


  • Switch to a more suitable loan product


Before you consider refinancing, come and have a chat with your trusted, local mortgage broker, John Kennedy of Mortgage Choice in Mudgeeraba.  With over 25 years of experience in the finance industry John can help you:


  • Establish why you want to refinance


  • Confirm aspects of your existing loan, such as the current interest rate and type of rate (variable or Fixed), ongoing fees and available features


  • Help determine what aspects of a loan are most important to you


  • Figure out what loan features you ‘need’ as opposed to ‘want’


  • Consider options from all types of lenders because a more suitable option may be from a lender you are unfamiliar with


  • Assess future requirements e.g. how flexible the product will be if you change your plans later on


  • Determine the cost of refinancing against the benefits, as it may be cheaper to keep the existing loan rather than pay additional fees


Understanding and comparing different loans and their many features is what John specialises in.  He will research and compare other loans to your existing loan and provide you with a short list and expert advice on each of your options.


Saving you time, hassle and worry…….all at no cost to you.


Give your home loan a spring clean this month,to ensure you are still on the best deal for you. Contact John Kennedy on Ph. 5559 2563, email on john.kennedy@mortgagechoice.com.au or drop in for a chat we are conveniently located 5 minutes from Robina Town Centre in Mudgeeraba.

Posted in: Refinancing

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