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refinancing
Our Response to COVID-19
With the uprising of the current world pandemic, all our services are available over call and online. We would love to meet with you in person, while following all necessary precautions and regulations. Due to the spread of coronavirus, some delays can be expected from banks so please be patient.
Ready to Refinance?
Let us help!
What we do
We assist you every step of the way by;
- Understanding your needs and goals for a refinance
- Working out what plan best suits so through comparison of different lenders
- Explain the process and terminology
- Assist you throughout from applying to managing each step to the final step
Borrowing Capacity
To understand your borrowing capacity, you first need to know how much you can afford to repay each month.
To determine how much you can borrow, lenders will consider:1. Your income2. Your repayment records 3. Other financial commitments (personal loans, credit and store cards, car repayments)4. Your living costs (household bills, council rates, strata fees, transport and petrol, school fees)
When you deduct all of these expenses from your take home pay, you’re looking for a figure that can cover your repayments and give you some room to move too.Having this information on hand could be helpful for us in finding the loan that is right for you.
Better mortgage rate
You can get a lower interest rate when refinancing with us or can shorter your payement time period.
Lower monthly payments
Tired of paying high montly sums? Don't worry our services give you the best available deals and lower your pricing rates.
More predictable costs
Refinancing helps you analyse what different lenders are offering so you can choose the prime deals. You can also get cashbacks with many banks after refinance.
Myths of Refinance
Too Costly to Refinance
The main cost that deters home owners from refinancing is lenders mortgage insurance. If you borrowed more than 80% of the value of the property initially then chances are you would have had mortgage insurance added to your loan.
"I was approved for my current home loan, so I’ll be approved for a refinance"
Even though you were approved for your current loan, it does not automatically mean you will be approved for a refinance. We will happily redo the application for you.
Borrower’s with a fixed rate loan cannot refinance
It is possible to refinance a fixed rate home loan, but you may incur break costs. Overall there is more savings after refinance. Contact us today for more details.