Last updated 6:00am, 7th Jul 2022
Often people do not see the value in refinancing their home loan. Regardless of the potential savings, which sometimes can be in thousands of dollars each year. The whole process can seem like a bit too much hard work.
A mortgage broker will work with you to find a better home loan. Prepare and lodge the loan application and ensure the loan successfully settles.
If you have been with your bank for 3 or more years, then you too may be paying thousands of
dollars in additional interest to your bank. Compare your home loan using our comparison tool and
then speak with a mortgage broker about how they can help you refinance your mortgage.
Refinancing your home loan can often help you reduce the interest rate on your home loan. On a typical home loan refinance of $500,000, reducing the interest rate by 0.20% you could be saving as much as $1,000 each year. After a few years that could be an overseas holiday.
What do I need to consider?It is important to consider the goal you are looking to achieve. Do you wanted to reduce your interest rate, continuing to pay your loan off at the same rate? Alternatively, is your monthly repayment too high and do you need to reduce your monthly commitment?
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The comparison rate is based on a loan amount of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Terms, conditions, fees and charges apply and your full financial situation would need to be reviewed prior to acceptance of any offer or product.
