Many people are paying too much interest on their mortgages but are unsure whether it is worth refinancing. Or they simply don’t want to go through all the hassle for the sake of what seems like a small saving.
The truth is that refinancing can mean significant savings in repayments.
Mortgage brokers also refinance loans for reasons other than lower interest rates: they might want to get better service for their clients, a more suitable loan structure, or a deal that is better suited to their client’s changed circumstances.
The main reasons to refinance to a new bank include:
- Your situation changes and your existing structure becomes outdated
- Better offers in the marketplace appear which can save you money and reduce your repayments
- You wish to tap into your equity for home renovations or future investments
- You wish to consolidate a number of debts and improve cash flow
This is where a mortgage broker can help you make this process simple. We will help you assess your financial status and negotiate the best deal that services your needs through more than 30 lenders which will ultimately offer you peace of mind.