What Is Refinancing?

Refinancing is the process of paying out your present home loan by applying for a new loan, usually with a different bank or lender. Refinancing can also be your ticket to better loan features and lower interest rates. We specialise in switching clients into more beneficial home loans.

Here are some popular reasons why people go for refinancing:

  • finding a cheaper rate, even if it means giving up some loan features
  • for home improvements or renovations
  • for paying out other debts and consolidating into one repayment
  • for the purchase of another investment or a car
  • for switching from variable to a fixed interest rate, or vice versa

Lower Your Repayment

When you first buy a home and get a home loan, meeting high mortgage payments and managing cash-flow can be a real challenge. Refinancing to another bank or lender can be an effective way to reduce your monthly commitments and improve your cash flow. Less money going towards your mortgage means more cash for you!

There are a range of factors that could make a new loan with a different lender the best way to lower your monthly repayment, and make it worthwhile to refinance away from your current bank:

  • a cheaper interest rate
  • a longer loan term
  • more useful features that allow you to manage your money better and pay off your loan faster
  • lower monthly or annual home loan fees
  • a combination of all of the above