December 01, 2014
Summer is a great time for renovations, and with interest rates still at record lows, refinancing can provide low cost funds to get the job done.
A well-planned renovation does more than improve your lifestyle. It can also boost your home's value, and when it comes to funding your renovation project it's worth thinking about refinancing your home loan.
Refinancing simply means replacing your current loan with a new home loan or possibly topping up your current loan. This can offer the advantage of a lower rate, better loan features or simply tapping into additional funding.
If you've owned your home for a few years, chances are the property has grown in value. This gives you a decent pool of home equity - money that can be accessed for renovations.
Depending on the rate and term applicable when you take out the renovation loan, your monthly loan repayments may not even change.
Best of all, we can do the leg work to track down the loan best suited to your new needs, which leaves you free to focus on the exciting part - planning your renovation project so that your home reaches its full potential.