In this blog we share 3 compelling reasons you should refinance your North Brisbane Home Loan today.
North Brisbane Home Loans is here to help with all your loan and refinancing needs.
3 Compelling Reasons to Refinance your Home Loan
If you’re looking to refinance, but are unsure if it’s for you, you may be surprised to hear there can be some significant financial savings. Here are 3 compelling reasons you might choose to make a few changes to your home loan:
- Save time and money – Depending on each individual situation and circumstances, refinancing your property could save you money long term. Also, it goes without saying but time is money and we save people time by saving money.
- To get a better rate – If you’re looking for a better interest rate or if your current home loan is about to switch from fixed to variable.
- To consolidate multiple debts – While not always ideal for everyone, some rates and deals can better suit those looking to pool their debts as one.
What are the benefits of refinancing?
Depending on your loan and your situation, these are the potential benefits you could see because of refinancing your loan
- Reduced repayments
- Reduced loan term
- Lower interest rate
- Cash flow improvement
- Better structure for investment purposes
- Better structure to pay loan down faster
- Access to equity for home improvements or other purposes
- Repay and close down more expensive debts
Please note: While all of the above are possible, but everyone’s situation is different so the North Brisbane Home Loans team would need to understand your personal situation properly in order to provide tailored recommendations for you.
If you refinance – are there ways to make less in repayments and still pay off your home loan faster?
This question can be answered in a few different ways – but will depend on each clients personal situation.
But say, for example, you had some higher rate credit cards and you were trying to pay them down at a large amount every month. With a refinance you may be able to get a lower rate home loan than you have right now and by adding the credit card debts to the loan and maintaining the same or even slightly less payments you could pay it of faster, yes.
Why Choose North Brisbane Home Loans?
If you haven’t connected with North Brisbane Home Loans before, here’s a couple of reasons to get in touch:
- We put you first: Just read one of the hundreds of reviews from our happy clients! We genuinely want to help you achieve your property ownership dreams.
- Experienced mortgage broker: Our more than 90 years’ combined experience in the industry allows us to confidently offer you the best advice when it comes to finding a loan for you.
- We have achieved great success: In 2018, we were named as 2018 Connective Excellence Award finalists. North Brisbane Home Loans has been nominated for Best Customer Service two years running.
- We have a high involvement in the community: North Brisbane Home Loans is proud to operate in and are committed to giving back to our local community. Read about our Community Involvement here.
Refinance your North Brisbane Home Loan
If you’re looking to refinance, upgrade or change any of your home loan details, get in touch with North Brisbane Home Loans today.
North Brisbane Home Loans is Brisbane’s leading mortgage brokers with more than 90 years’ combined experience.