Mortgage Choice Rockingham

Personal Mortgage Advisers

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What to consider when refinancing

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What to consider when refinancing

The biggest barrier to refinancing a home loan is the fear of the unknown.

Who can I trust?

When should I refinance?

Should I go fixed or variable?

Should I buy an investment property?

What to consider when refinancing

While these questions can be daunting, refinancing can save you thousands of dollars and have a huge impact on your long term financial position.

Refinancing is simply moving your mortgage from one lender to another. It’s usually triggered by a big life event; the purchase of an investment, consolidating debt or selling a property.

Refinancing is a strategy that the most astute property owners use to maximise their capital growth and cash flow over the term of their loan.

It can backfire, though. What some borrowers don’t realise is that there are fees and charges involved which can mean the savings don’t add up.

Smartline Rockingham takes great pride in servicing the local Rockingham community. We get to know you and we value your long term financial prosperity. We are 100% transparent and work around the clock to provide our clients with the best deals on their home loans.

Some good reasons for considering a refinance are:

  • Your current lender has put up their interest rates without notice
  • You are not receiving good customer service
  • You wish to save money on your monthly repayment or pay less interest
  • You wish to unlock equity or borrow more to fund a renovation of extension
  • You have debt in multiple places and wish to consolidate to a low interest loan

It’s important to know why you wish to refinance before pulling the trigger. It’s not always about chasing the headline interest rate as each lender offers different packages and features with their loans which could save you money on top of a reduced interest rate.

The beauty of using a mortgage broker at Smartline Rockingham is that we do all the calculations for you. We can work out the right deal for you based on your financial goals.

Give Smartline Rockingham a call to book a confidential appointment, so we can discuss your current loan and work out if refinancing could save you money.