Refinancing

When the Reserve Bank decreases the cash rate, it usually signals falls in borrowing costs across the economy and can be good news for mortgage holders. Movements in interest rates often act as a prompt to mortgage holders to review their borrowing arrangements. In fact, a recent survey data revealed that almost half (49 per […]

Paying high-interest debts can decrease the amount of money you can put into your savings, but you may be able to save more money if you refinance when conditions are favourable. However, refinancing isn’t a one-stop solution to your debt problem. Refinancing doesn’t lower your balance or the number of debts you have.  Rather, it allows you to minimise

There’s a considerable amount of media interest in the housing market at present fuelled by sharply rising house prices. While this means it’s going to be increasingly challenging for first home buyers to get into the market, those already on the property ladder can look at their current home loan arrangements and make some potentially

Fixed rate terms last for a set period of time that is prearranged between you and your lender. Fixed rate periods last between one and five years. When your fixed rate term ends, your loan will usually revert automatically to the standard variable interest rate unless you have provided instructions to refix your loan. As

So, the home loan you agreed to a few years back no longer caters to your current financial situation and you now need to make a decision on whether or not refinance. Here’s a list of everything you need to consider before making the big switch. Set your goal Whether it’s to gain lower monthly

Refinancing your home loan has the potential to save you thousands, reduce your monthly repayments and free up your finances to achieve your goals. However, mastering the art of refinancing requires strategic planning, an understanding of the process and taking numerous considerations into account. Whether you plan on external or internal refinancing, here’s what to

A way to utilise the equity in your home. Many Australians own homes that are worth more than the balance of their mortgage. With a home equity loan, you can unlock that ‘equity’. What is home equity? You’ll hear a lot about equity in relation to home loans. Equity is the difference between what your

Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. Here are some things to be aware of so that you don’t find yourself hooked into a bad deal. Don’t be fooled by the interest rate Finding a lower interest rate doesn’t

Refinancing can be a great way to save money if you believe you are paying too much for your loan, but there is more to it than just finding a loan with a lower interest rate and making the change. Before making the switch, ensure the savings you could make outweigh the fees involved. Here