If you are someone who either got a home loan a few years ago, or whose financial circumstances have changed recently (e.g. promotion at work, semi-retirement, recent inheritance, less dependants, etc.) then you may be able to refinance your loan for a more competitive rate.
Why refinance?
Most borrowers adopt a set-and-forget mentality, meaning that they forgo the opportunity to potentially save themselves thousands of dollars. One of the reasons for this is refinancing is seen as something inconvenient and unnecessary if repayments are currently affordable. However, when guided by a mortgage broker, refinancing your loan can be a straight forward process that requires minimal effort on the borrowers part.
Is it applicable for everyone with a loan?
No, refinancing isn’t right for everyone. Those who have only recently got their loan or who already have a very competitive deal may not need to refinance, however it certainly doesn’t hurt to ask.
Why not get in touch with us today to see whether refinancing could save you money. Our service is completely free, with no obligation to you.