Refinancing

Should you refinance your home loan?

If you’ve had your current home loan for a number of years, it’s likely that your needs have changed. You may have a different financial situation, but your current home loan may not have the range of flexible features and add-ons that are now available on the market.

It’s a good idea to review your home loan from time to time, to make sure it is still helping you achieve your financial goals and has all the features you need.
If you compare home loans and find another loan that better suits your needs, you can refinance your home loan. Refinancing involves paying out your current loan with a new one. It may shorten your loan term and reduce repayments on your loan, so you can afford to make extra mortgage repayments and own your home sooner.

Refinancing is also a good time to re-assess your situation and plans and to ensure that your loan is working for you to achieve your financial goals. We build long-term relationships with our clients with regular reviews to ensure that your loan continues to be a good fit with your evolving circumstances and objectives. And as our clients build equity and assets over time, we provide guidance and support (together with advice from your accountant, financial planner or solicitor) on the path to securing your financial future.

Reasons to Refinance

– You may be looking for a better interest rate or new features and add-ons such as flexible repayments, redraw facilities and account splitting

– You may be looking to use the equity in your home to renovate

– If you’re coming to the end of a fixed rate term, it’s a good time to see if you can get a better interest rate or a more flexible home loan

– You may be looking to consolidate debts such as a personal loan, car loan or credit card onto your mortgage, so it’s easier to manage your finances