Refinance - Can I Refinance?
In most cases YES, you can refinance and YES you should consider whether to refinance into a product that better suits your needs.
If you obtained a mortgage in the last 3 to 8 years there is a good chance you will be better off with an updated loan that will actually help you pay off your loan faster.
Aren’t all loans the same, I hear you ask?
The short answer is no!
Loans like any other product in a competitive market place are constantly changing to meet the needs of consumers and give their providers a market leading edge. Apart from new features and new lenders entering the market there is a good chance your financial situation has changed during this time and this alone is a good reason to investigate the need to refinance.
Why would I Refinance?Great question! Take the time to review your own situation with the following points in mind and discover whether a refinance of your existing mortgage will provide you with the difference you need to achieve your goals. What can I do if I refinance: • Reduce my loan faster
The list is endless, so take the time to consider your situation and discover how we can assist you and your your needs. |
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Of course a refinance does not have to include the need to borrow additional money. You may simply be looking to have your money working smarter and help you reduce your loan even faster. Many new loan product features allow you to maximise your income and repayments to allow you to reduce your debt even faster than you thought possible, check out our Mortgage Partners Australia Lifestyle Simulator for ideas on how to make your loan work harder for you.
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Some of the advantages to be considered when refinancing: • Potential for reduced monthly repayments • Improved financial control • Better understanding of your finances • Affordable lifestyle |
When considering a refinance as part of your finance strategy, take the time to ensure you understand all the costs associated with refinancing your existing debt arrangements. This is particularly true when making an early repayment of existing loans or lease arrangements. Your broker will help you work through the detail. Only if there are sufficient advantages for you will we recommend that you refinance.
When combined with a well-planned repayment strategy like the Mortgage Partners Australia Lifestyle Simulator, a loan refinance can provide you with a great kick-start to achieving your financial goals.
Your broker will help you work through your finances to determine the best possible solution to provide you with an effective strategy for reducing debt and achieving your finance goals.
Refer to the Products and Services page for an overview of how you can use our extensive product range to help you.
Talk to us today to find out how effective a refinance can be for your success.