It staggers me why so many people think changing to another lender for their home loan will be problematic. It may have been in the past, but not today. Lower exit fees, record low interest rates and over 35 different lenders to compare from means if you haven’t thought about refinancing lately maybe you should.
Especially with the RBA lowering the interest rates to record lows, there is potential to save thousands per year and subsequently you may be able to pay off your loan years sooner. By being thorough and ticking all the boxes, on most occasions a refinance to another lender is dead easy.
In a traditional sense refinancing in most people’s mind is to “save money, get a better rate”. True, it is, and we can, but it is so much more, utilising a broker gives you:
- One point of contact for any questions you may have about your loan
- Peace of mind – We don’t favour any specific lender, we work with your best interests in mind and get paid by the lender all the same.
- A wealth of knowledge on the property market for future purchases
- Free official bank valuations which can be used to evaluate your wealth and capacity to refinance
A refinance from a major lender to a smaller one really is worth looking at. The savings can be massive because right now, rates are as low as 3.67% for variable loans whereas the majors can be around 4.5%.
It won’t cost you a single cent to find out if you could save money and get a better rate. Feel free to get in touch with me on 0448 811 567.
Regards,
Andy Edmonds
Home Loan Specialist