The Benefits of Refinancing
Over the course of a home or personal loan, your circumstances and goals can change, and so can interest rates. Here at Your Advisor Group, we’ll work with you to ensure you get the best deal throughout your loan by helping you refinance. Refinancing can potentially save you money, reduce the lifespan of your mortgage and ultimately get you a better deal. Our goal is to help you:
Get a Lower Rate
Because interest rates frequently change, it’s important to regularly check in with your lender to try and negotiate a lower rate. You may also be able to switch to another lender if your current one can’t offer any improvements.
Get a Better Deal
Certain home loans come with certain benefits and you may be able to find a better deal by looking around. Switching to a loan that has a redraw facility, allows you to make extra payments and features an offset account may reduce the amount you pay over the life of your loan.
Consolidate Debt
If you have a personal loan or car loan, you may be able to consolidate them into your home loan to reduce interest. Our brokers will take a big picture approach to find you the best solution.
Enjoy More Flexibility
Whether you’re planning an overseas holiday, need to renovate your bathroom or want to upgrade your car, you may be able to access money to fund it by refinancing if your home has grown in equity.
Reasons to Refinance
Fixed-Rate Expiring
If the fixed interest rate for your loan is about to expire, it's the perfect time to explore your options. Typically a lender will automatically transfer your loan to their variable loan, which may not be the best option for you.
Equity Growth
If you make your repayments, the equity you own of your home will increase. When this happens, some lenders may offer you a lower interest rate.
Credit Score Improvement
If your credit score has improved, you may be eligible for a lower interest rate. We'll do our best to help you refinance for the better.
The Refinancing Process
Working with a mortgage broker can make refinancing a simple process. If you haven't looked into refinancing before and are unsure where to start, this is all it takes when you work with Your Advisor Group:
We Chat
We check in with you to discuss your circumstances and goals as well as reviewing your current mortgage. Our brokers will also investigate any exit fees or additional costs.
We Shortlist
The next step is where we do what we do best - comparing loans offered by more than 60 different lenders. We’ll provide you with a shortlist of our recommendations to help you choose the best deal for your needs.
You Save
Once you’ve made an informed decision, we’ll get to work handling the paperwork involved from the application to settlement. Our brokers will then regularly check in to ensure your loan is always working hard for you.
Learn More About Refinancing
Book a free 15-minute discovery call today!
