Refinancing | Mortgage Choice Bayside
Refinancing your home loan can mean some serious savings on your mortgage repayments. The team at Mortgage Choice Bayside will help you through the refinance process, starting with comparing your home loan with hundreds of others on the market to see if they can find you a better deal.
What is refinancing?
Refinancing is the process of replacing an existing loan with a new loan with a new lender.
People usually refinance to:
- Take advantage of a lower rate and save money on repayments
- Get better features such as offset accounts, portability etc
- Change the terms of their loan to pay it off sooner
- Switch between fixed & variable interest rates
- Consolidate their debt and pay lower interest payments
- Take advantage of the equity in their home to invest or renovate
As you can see, there are lots of great reasons to refinance to a new loan. We recommend reviewing your loan at least every 2 years to take advantage of the changes in the market and competitive interest rates released by lenders.
But while refinancing can help you make the most of your money and assets, it can also come with some costs, so it's important to make sure that the benefits outweigh the cost before going ahead. That's where we come in!
The first step: can you get a better deal?
The first step is to figure out if you can actually get a better deal on your home loan. Our team will first compare your current home loan with hundreds of others on the market to see if we can get you a better deal.
This first step is called our free Home Loan Health Check. It takes about 30 minutes and has the potential to save you quite a bit of money!
Our Home Loan Health Check will at least give you peace of mind that you're in the right home loan. If we can find a better deal, we'll talk you through any costs associated with switching and what you could potentially save.
The second step: The application & follow up
Just like with a normal home loan, we'll complete the refinance paperwork for you and submit to the lender. The team at Mortgage Choice Bayside will then follow up with the lender to make sure that the refinance is progressing smoothly and answer any questions on your behalf.
That means you can spend the time you would have spent following up with the bank and putting the paperwork together, doing the things you love.
Learning more about refinancing
If you would like to learn more about refinancing and how it could save you money, check out some of our educational resources and mortgage calculators. If you've still got questions - contact our team at Mortgage Choice Bayside - that's what we're here for!
- Compare interest rates with our mortgage calculators to see what you could save
- Click here to download our e-Guide to Refinancing
Book your free Home Loan Health Check
To get started with the first step of the refinance process, book your free Home Loan Health Check with our team at Mortgage Choice Bayside today! It's easy, and you'll know whether or not your home loan is costing you money.
We service the areas of Bayside & surrounds including Bentleigh, Brighton, Moorabbin, Hampton, McKinnon, Ormond & more.
Call us anytime on 9589 7277 or click the Contact Us button at the top of the page.