SHOULD i REFINANCE MY HOME LOAN?

Refinancing your home loan can be a smart option if you’re looking for a lower interest rate or a loan product that better suits your needs. Here are some of the key benefits to consider, contact us for advice on whether refinancing is right for you.

• Lower Interest Rates

  The number one reason people refinance is to secure a lower interest rate. Even a small reduction in interest can save thousands over the life of your loan.

• Reduced Monthly Repayments

  By securing a better rate, you may lower your repayments. It’s also important to keep making extra repayments where possible. This helps you shorten your loan term and save significantly on interest over the life of the loan.

• Pay Off Your Loan Faster

  Switching to the right loan product (variable/fixed/split) can help you reduce interest or give you access to different features (redraw/offset/extra repayments)

• Access Equity in Your Home

  Refinancing helps you access your existing equity for renovations, investing in property, consolidating debts, or other personal investments

• Consolidate Debts

  Consolidating high interest debts (credit cards/personal loans) into your home loan can make repayments easier and often cheaper.

• Improved Service

  If you’re unhappy with your current lender, refinancing gives you the chance to switch to a lender with better customer service, digital tools or online banking.

If you’re asking yourself “Should I refinance my home loan in Sydney?” the best next step is to get advice. As mortgage brokers, we compare a wide range of lenders and products to find an option that suits your situation.