Refinancing | Mortgage Choice in Bayside
Refinancing your home loan can mean some serious savings on your mortgage repayments. The team at Mortgage Choice in Bayside will help you through the refinance process; comparing your home loan with hundreds of others 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. 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.
People usually refinance to:
- Take advantage of a lower rate and save money on repayments.
- Get better features such as offset accounts, portability and more.
- 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.
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 in Bayside 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 our free Home Loan Health Check. It only takes a short time and could save you money.
If we can find a better deal, we'll talk you through any costs associated with switching and what you could potentially save. Our Home Loan Health Check will at least give you peace of mind that you're in the right home loan.
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 in 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 in Bayside - that's what we're here for!
- Compare interest rates with our mortgage calculators to see what you could save
- Watch our simple property videos
- Read: 5 ways refinancing can save you money
- Read: The debt free action plan
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 in Bayside today! It's easy, and you'll know whether or not your home loan is costing you money.
Call the Bayside team anytime on 03 9589 7277 or click the Contact Us button at the top of the page.
The team at Mortgage Choice in Bayside service the suburbs of Bentleigh East, Brighton, Brighton North, Brighton East, Hampton, Hampton East, Hampton North, Moorabbin, Moorabbin East, Heatherton, Bentleigh, McKinnon, Ormond & surrounds.
Is it time to refinance?
Our mission is to find the right home loan for your individual needs and to always have your best interests at heart. Plain and simple. Which is why we have such a wide range of lenders to choose from. We can search through hundreds of products to find something tailored to your situation. ~