Exploring options to refinance your home loan? We’ve covered off the main topics you need to know to make a more informed decision. From the fundamentals of refinancing right through to reviewing your current finances, we’ve got you covered.
Refinancing is when you renegotiate your current home loan or you take out a new home loan with another lender. The aim of refinancing is to either increase the amount of your loan, or secure a lower interest rate to reduce your monthly repayments.
There are multiple reasons to consider refinancing. One of the most important reasons is ensuring you have the right loan for your circumstances. Evaluating your situation frequently will not only ensure you stay on top of your own finances, but also have a better overview of the mortgage products currently being provided.
Understanding your current position is the first step to refinancing your home. Reviewing your current mortgage and evaluating your finances is just the initial step.
Still need more answers? Browse this list of questions our brokers are frequently asked by customers.
Have enough information? Check out comparethemarket.com.au’s home loan comparison tool and work out if you could be saving.
