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Refinancing
Refinancing your home loan can enable you to secure a better interest rate, reduce your repayments and improve your overall financial position.
A loan should never be treated as ‘set and forget’. If you don’t refinance over the life of the loan you will inevitably end up paying much more than you have to. Refinancing can save you thousands of dollars per year, so it is often worth the effort.
How does refinancing work?
Refinancing involves moving your current loan to a new lender with better terms. The property purchased through the previous loan becomes the security on the new loan.
Your mortgage broker will undertake research into which lenders are offering the best interest rates, as well as consider your financial goals and position to establish the best loan structure for you.
What should you consider when refinancing?
There are several factors that can influence whether or not you should refinance. This includes changes to the cash rate and lender interest rates, a change in your financial position, a change in your financial goals, an increase in equity in properties you own, and more favourable terms from banks and lenders for new customers.
While you won’t need to pay your mortgage broker when refinancing, there can be additional costs involved like application fees or exit penalties, so speak to your broker about what to expect.
Refinancing is a significant financial decision, and understanding all the intricacies is crucial. By arming yourself with knowledge and seeking expert guidance, you can confidently navigate the process and secure the best possible outcome for your financial future.
Why work with FABE Financial to refinance?
At FABE Financial, we have extensive relationships with banks and lenders, and deeply understand the lending landscape, ensuring we can source the best deal for you. If you’re interested in refinancing but aren’t sure if you will be able to secure a better deal, reach out to us for a no obligation chat.
Refinancing
Refinancing your home loan can enable you to secure a better interest rate, reduce your repayments and improve your overall financial position.
A loan should never be treated as ‘set and forget’. If you don’t refinance over the life of the loan you will inevitably end up paying much more than you have to. Refinancing can save you thousands of dollars per year, so it is often worth the effort.
How does refinancing work?
Refinancing involves moving your current loan to a new lender with better terms. The property purchased through the previous loan becomes the security on the new loan.
Your mortgage broker will undertake research into which lenders are offering the best interest rates, as well as consider your financial goals and position to establish the best loan structure for you.
What should you consider when refinancing?
There are several factors that can influence whether or not you should refinance. This includes changes to the cash rate and lender interest rates, a change in your financial position, a change in your financial goals, an increase in equity in properties you own, and more favourable terms from banks and lenders for new customers.
While you won’t need to pay your mortgage broker when refinancing, there can be additional costs involved like application fees or exit penalties, so speak to your broker about what to expect.
Refinancing is a significant financial decision, and understanding all the intricacies is crucial. By arming yourself with knowledge and seeking expert guidance, you can confidently navigate the process and secure the best possible outcome for your financial future.
Why work with FABE Financial to refinance?
At FABE Financial, we have extensive relationships with banks and lenders, and deeply understand the lending landscape, ensuring we can source the best deal for you. If you’re interested in refinancing but aren’t sure if you will be able to secure a better deal, reach out to us for a no obligation chat.