Refinancing is taking out a new mortgage to replace an existing loan. This can be with the same lender, but it often involves switching to another lender.
Switching your loan could be right for you if you have been thinking about moving home or renovating. Refinancing could also allow you access additional features like an offset account or a lower interest rate.
Here are some additional reasons why switching your loan could be for you:
- To get a better interest rate or different features and add-ons such as redraw facilities or flexible payments.
- To use the equity in your home to borrow money to renovate or improve your lifestyle with a new car or holiday.
- To consolidate debts such as a personal loan, car loan or credit card into your mortgage so it’s easier to manage your finances.
If this sounds like switching may be right for you, contact us on 03 9133 5565 or click Book a Call above.