Refinancer

Refinancer

Your mortgage broker will assist in refinancing your expensive home loan by lowering your interest rates and home loan repayments.

About Refinancer

Australians love refinancing and Australian mortgage brokers are very experienced at showing you how to reduce monthly repayments, save interest and consolidate personal loans as well as credit cards.
Refinancing an owner occupied (principal place of residence) home loan and investment property home loans are easily refinanced for a better deal. Experienced mortgage brokers will do all the work for you, it generally takes 4-6 weeks to refinance a home loan if finances are straight forward and simple, longer for complex financial positions. The main factor impacting speed is customer & broker responsiveness.
The home loan that helped you purchase your first home or second home may not be the best option, five, ten or twenty years down the track. As your lifestyle and financial circumstances change, it will be necessary to review your home loan to ensure you’re getting the best deal.
Refinancing involves switching your home loan for a more suitable product that will suit your changing needs or taking advantage of a better rate and lower fees. While it may seem easier to keep your home loan where it is, complacent borrowers could miss out on thousands of dollars in interest and prolong the life of their loan. It is generally referred to as loyalty tax.
Comparing the entire range of mortgage products on the market is daunting, but with the help of your mortgage broker, you can ensure refinancing gives you a product that suits your exact needs and get you a better rate. It’s always about the rate!

Types of refinancer loans

Variable rate home loans

 

If you seek flexibility rather than a guaranteed rate, a variable mortgage rate that is generally lower & follows the market may be right for you

 

Fixed rate home loans

 

If you need set repayments up to 5 years to assist in budgeting at any given fixing opportunity

 

Construction loans – Fixed price building contract

 

In order to keep repayments as low as possible during construction, our loans only require variable rate interest only repayments for the 1st 12 months. Best to engage the services of a trusted mortgage broker for direction & safety.

 

Split loans

 

A split loan lets you make part of your fixed and the other half, variable.  Consider fixing the vacant land portion & taking a variable portion for the construction portion.

 

 
 

Steps to your refinancer loans

Step 1 : Home Loan Health Check

If you’ve decided to refinance an existing property, you’ll need to take a look at a few things such as the terms of your current loan including interest rate, maturity rate, and type of loan, as well as the equity you have in your property. The best time is when you have secured a safe & satisfying permanent position for PAYG or two years of consistent income for the self employed.
A home loan health check will look at all these things and help you to identify if your current home loan is still working for you and meeting your requirements. The best time is when your principal place of residence requirements has changed.
A home loan health check can be performed with a specialist mortgage broker in person or over the phone in as little as 20 minutes. They can advise the perfect rate and home loan product for you.

What is the right
time to refinance?

The loan you have now might have suited your needs when you first bought your home, chances are that there might be better loans and smarter home loan providers now. However, times can change, and so can loan requirements. Your current loan may not be the best option for you and your family now. Or maybe you have a number of smaller personal & car loans as well as your home loan, and you realise you are paying way too much in interest & loan repayments. Being able to refinance can mean putting all those loans into one new loan, or taking out a new home loan with a better rate or lower fees leading to lower repayments. While it may seem easier to keep things where they are now, finding a good broker could save you thousands of dollars and help you avoid prolonging the life of your loan. Having everything under one roof, so to speak, can make a big difference. Scheduling a regular mortgage check-up is one way to always ensure you are in the best position you can be. Housing loans can be difficult things to keep on top of, and we recommend close contact with your mortgage broker to make sure you are getting the best deal possible. Whether that’s turning to a refinancer, or tweaking your current loan, your experienced advisors can make a big difference.