The old saying a change is a good as holiday couldn’t be truer when it comes to refinancing your current home loans. Reviewing your loans and making a change could actually mean you can afford that holiday after all.
For many borrows the idea of refinancing is daunting and often put in the too hard basket. That’s why engaging the services of a mortgage broker can not only help ease the pain but also ensure you save as much money as possible. Often a simple refinance can save you thousands per annum in interest payments. Now surely that is worth the effort?
The nature of lenders is that they reward new customers and forget about their existing ones. That’s why if you’ve had your current loans for a couple of years now there is a high chance your rate could be as much as 1% or higher above the current market. On a $500,000 loan that could be a potential saving of over $5,000pa in interest repayments – Aloha Hawaii!
Refinancing is also a good time to review your entire financial structure, consider that renovation, new car or book that holiday.
So don’t put it off any longer.