Consider Refinancing Your Mortgage
In the blog post, we will explain the ins and outs of refinancing, including the benefits, costs involved and the necessary paperwork to start the refinance process to help you decide if refinancing will benefit your financial wellbeing in the long run.
Understanding How Refinancing Works
Refinancing simply means taking out a new loan with a different lender to pay off your existing one. Submitting a refinance application can be done directly by the homeowner but it may be worthwhile if you seek assistance from a mortgage broker to look into your finances before doing so.
If you are thinking of refinancing, here are some tips on what to consider:
• Refinancing is a good move if you can lower your interest rate.
• Refinancing can work in your favour if your finances have improved.
• Refinancing is an option if you want to change to a different loan product.
• Refinancing is advisable if you are not on a fixed rate term. Although there is nothing that can stop you from refinancing even if you are on a fixed rate loan, it is not advisable to do this while you are on a fixed rate due to the exit cost.
• You can choose to refinance if you are not happy with your lender due to poor customer service or hidden cost.
Why is it better to seek help from a mortgage broker?
If you are a mortgage owner, here are some crucial points and benefits of seeking the assistance of mortgage brokers when refinancing:
• Lender research. We have a huge network of lenders, and we can provide you with a lender comparison report, which includes a list of the best & cheapest lenders to help you decide where to refinance your mortgage.
• We will provide you a list of requirements you would need for the refinance application. No surprises or delays along the process.
• We will organize everything from start to finish. We will prepare and submit the application, help you get a fast approval and guide you through settlement.
• We are accessible and easy to contact. No holding on the line when you have questions.
Want to know more about Refinancing? Ask our experts!
Speak with one of our experienced mortgage brokers here at Investors Mortgage to determine if refinancing is your best move and can greatly benefit you financially. Discuss your questions and options by booking a time that suits. Call us on 1300 468 733 or email mail@investorsmortgage.com.au
Spread the Word
