Low rates encourage borrowers to review their mortgage

August 28, 2014
Robert Harney

With spring just around the corner and interest rates hovering around historical lows, now may be a good time for borrowers to give their mortgage a much needed spring clean and make sure their current home loan is still the most suitable product for their needs.

“A good de-clutter never goes astray and often borrowers uncover financial aspects of their life that need some reassessment or to be changed altogether,”

“And with interest rates sitting at historical lows and Australia’s lenders actively competing for business through sharp pricing, significant discounts and other incentives, borrowers may find a simple spring clean of their mortgage can save them thousands of dollars.”

Borrowers who give their home loan a spring clean may realise that they are in the perfect position to refinance their mortgage.

“Refinancing may allow borrowers to repay their home loan sooner and ultimately achieve their next financial goal sooner.

“Further, refinancing can be a great way for borrowers to lower their mortgage repayments, consolidate their debt and even access equity in their home.”

Posted in: Refinancing

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