Refinancing
Refinance now or check your savings today!
Save money and gain better loan terms with our refinancing options.
Whether you want to lower your interest rate, reduce monthly payments, or consolidate debt, our refinancing solutions are tailored to meet your financial needs.
Refinance now or check your savings today!
Key Features :
Lower Interest Rates
Refinancing is often pursued to benefit from reduced interest rates, potentially resulting in substantial savings over the duration of the loan.
Adjustable Loan Terms
Refinancing enables you to either extend or reduce the loan term, which can impact the size of your repayments and the total interest incurred.
Equity Access
For property loans, refinancing can unlock the equity accumulated in your property, allowing you to use the funds for renovations, investments, or other needs.
Enhanced Loan Features
Switching to a loan with features such as offset accounts, redraw facilities, or the ability to make extra repayments can provide more flexibility and potential savings.
Considerations :
Refinancing Costs
It’s important to account for the costs involved in refinancing, such as exit fees from your current loan, application fees, and any legal or valuation fees associated with the new loan. These costs need to be evaluated to ensure that refinancing is beneficial for you.
Break Costs
If you are refinancing a fixed-rate loan, there may be significant break costs, especially if interest rates have dropped since you secured your rate.
Loan-to-Value Ratio (LVR)
Your LVR may change with a new loan, which could influence your eligibility for certain loan products or necessitate Lenders Mortgage Insurance (LMI).
Financial Objectives
Ensure that refinancing aligns with your long-term financial goals and enhances your overall financial situation, rather than just providing short-term relief.