fixed rate is expiring, then you must ensure the variable rate that will
eventually apply to your loan is competitive.
interest rate discount will be recorded in your loan documents, but it’s likely
that it will be out of date i.e., discounts have increased a lot lately.
mortgage broker will need to research your best options.
If your interest-only
term is expiring, your broker will need to investigate whether your lender will
permit another interest-only term and if so, what the process is to obtain one.
allow a maximum of two interest-only terms – you need to switch to a new lender
to obtain additional interest-only terms.
require you to go through the whole application process again and others are
dedicated call centres that clients must call.
possible, due to credit policies, that a lender may not permit another
case, you will need to refinance to a new lender.
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Wednesday, 12 April 2023