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Refinancing my mortgage

Home Loan Refinance

If you are wanting to assess your home loan refinance options, you will need to think about why it is you want to refinance and what the costs will be to move your mortgage.

You may also like to ask yourself if your current home loan matches your needs for example, do you use all of your loan features, or are you missing some features you could really make use of?

When refinancing consider the savings now and in the future, also find out the costs associated and do the sums. It’s important to consider the long term benefits against the actual costs of home loan refinance.

Access Your Equity
Many home owners find it difficult and are frustrated, saving for things like holidays or renovations whilst paying off a mortgage but it doesn’t have to be. Home equity loans are designed to give you access to the equity in your existing home loan via a line of credit loan.

Mortgage refinancing is a common way of accessing the equity you have built up in your existing property. The equity in your home is the distinction between the property value and what you owe on your mortgage.

The amount you can borrow is subject to the amount of equity you have built up in your property and other criteria, as a guideline you are limited to borrowing a maximum of 90% of the value of the property.

You can use the funds from your line of credit loan to buy an investment property, renovate your existing home or to take a break.

 Debt Consolidation
Struggling to make repayments on high interest debts such as credit cards and personal loans and high interest car loans? Debt consolidation can help reduce your monthly finance repayments, save you money on fees and charges and take control ofyour debt by consolidating your existing loans into a new lower interest rate loan.

Debt consolidation can lower your monthly repayments by combining your current liabilities such as credit cards, personal loans, car loans and your home loan into a new and more competitive lower interest rate home loan.

Benefits of debt consolidation:

  • Save on fees and charges
  • Secure a competitive home loan
  • Reduce your monthly repayments
  • Control your finances and pay off your loans sooner