What is refinancing?
If you are finding your current home loan isn't suitable for a number of reasons, from fixed term loan is ending to wanting to reduce your home loan repayments, you can refinance and acquire a home loan suitable for your situation.
Advantages of refinancing my home loan
Small differences add up:
Refinancing to a home loan with an interest rate that is a quarter of a percent lower might not seem like big deal, but 0.25% can mean a big reduction in your interest repayments over the life of the loan.
Switching to a home loan that allows you to make unlimited extra repayments without any break costs or fees could help you pay off your loan sooner.
Having your home loan and bank account with the same financial institution could save you money every month with fee waivers and discounts on products and services.
Consolidating your loans could make them easier to manage and pay off.
Ready to apply?
Getting a property valuation
Home loan fees and extra charges
Don't get caught by surprise!
It's important to be aware of extra charges you may need to pay including:
• Settlement fees
• Valuation fees
• Stamp duty
• Government mortgage registration fees
• Exit fees
• Early repayment fees.
Avoid any surprises and contact your current home loan provider to find out what fees are payable if you refinance your existing home loan.