Refinancing worth the Trouble
Is the grass greener with another lender?
Often the word refinancing leaves a bitter taste in your mouth… it seems like a lot of work with little reward to come. We are often encouraged to consider your electricity provider or shop around for insurance. initially, when we first purchase a house we are highly encouraged to shop around find the best bank, best deal, great rate, and then that’s it, your committed to this home loan for the rest of your mortgage so the next 30 years or so. But that isn’t the case, the grass may be greener with another lender...
Here are some indicators that refinancing may be a great option
You’ve come out of a Fixed Rate Period
Fixed rates are great, an expected payment locked in for a set period of time, however, when this period ends you are moved onto a standard variable rate – generally, with no discounts, no incentives and to honest, an average interest rate. Some lenders will contact in order to re-fix your loan for another amount of years, but at this point little research is done to see if that fixed rate is actually competitive
You’re no longer are happy with your current service or lender
This one’s an easy one, the romance has died – the honeymoon period is over, your bank doesn’t appreciate you or care about your future goals or perhaps you are unable to achieve these goals due to current policy. If you have had a conversation with your bank manager and received the ‘it’s just not in our policy’ or ‘that’s the best we can do’ then this is an indicator that it may be time to move on…
It's about Time and Lifestyle
Life is all about change, and changes or possible changes will be an indication that refinancing may want to be considered. Maybe your house is nice and quiet (this sounds dreamy) as the children have grown up and moved out – you no longer need the big house or perhaps you’re at the opposite end of the scale and your thinking of starting a family or you have a family and you want to have a fixed rate so you can budget knowing exactly what you’re paying each week or month … Investments; If you’re looking at purchasing an investment property or growing your real-estate portfolio… Restructuring or refinancing your home loan outside your current lender can be extremely beneficial
Picture this… you have a home loan you’re comfortable, there’s no stress or rush for settlement but you’re wondering if you could be doing better or if there is a better deal out there…. Well, at Unlocked Finance you can have over 40 different lenders products on offer that’s plenty of options to find the most suitable and best option for you and the best part of all is, our team do most of the work… the process is simple and to kick start the process all you need to do is call or email us !