As a property owner, it's always smart to look for different ways to save money and reduce your expenses. Refinancing is a popular strategy for home owners to take advantage of better interest rates and loan features.
Refinancing simply replaces your existing home loan with a new home loan that pays off the debt of the old loan. The new loan will likely have a better rate or features that should improve your finances.
Before you refinance, you should always do your research and get expert lending advice to determine if it's a suitable strategy for you. Some homeowners will stick to their preferred lenders, however some prefer to consult a Mortgage Broker or their trusted home loan expert.
What is a Mortgage Broker?
Mortgage Brokers have become an increasingly popular way for homeowners to access a wider range of lending products and a more personalised service. Your Mortgage Broker will hold a qualified degree in mortgage finance and be able to provide you with a range of lending products tailored to you.
The benefit for you is that instead of the need to contact banks individually and make multiple credit enquiries, they can do the hard work for you. Better yet, your broker can often meet with you at more convenient hours.
Your broker will do the shopping around for you and compare your current home loan to a wide range of lender products to see if theirs a more competitive option that can save you money.
Will it cost extra to use a Mortgage Broker?
Provided your broker offers a free service, then you won't pay any extra to take advantage of this personalised finance service. Most Banks will provide a commission payment to brokers in return for your business. This allows the broker to get paid and provide a free service.
How we can help...
Our experienced finance team can review your current home loan and discuss your goals. Once we have a clear idea of your situation, we can then compare your loan to other products and discuss your options.
Once we've found a product that you're happy with, your broker will start the refinance process and assist you with completing your application. If you're unsure about anything, we can explain it to you. You'll receive regular updates during the process and open communication.
When your new home loan is all set up, we can keep you informed with lending changes or better options when necessary. At any stage if you'd like to review your loan, our team can do this at no cost.
If you'd like a free review of your current home loan, you can request an appointment or call us for a chat. We will gladly help.