With interest rates at record lows,
more Aussies are refinancing their mortgages than ever before.
refinancing really mean and what can it do for your bottom line?
Here are five reasons you should consider it.
You could save yourself thousands
According to research, if your current rate doesn’t start
with a two, you could be paying an additional $1,000 a year in interest
compared to someone taking out a new loan of equal value.*
Rates have never been more
It really is a buyer’s market as some
banks have offered rates as low as 1.89 percent. Make the call to your lender
today and see what they can do to keep you, and then shop around!
Find a lender that will look after
When was the last time you spoke to a
lender? If your bank has a ‘set and forget’ style, you should shop around to
find one that cares about you, your loan, and your goals in life. Make sure
they’re not only competitive in rates, but in service too.
Here at RealRenta, we are here to help
and it's FREE to get a financial check to make sure you are getting the best
Reach your financial goals sooner
A good lender wants you to pay off
your loan and move on to bigger and better financial goals. If your lender is
more interested in creating a profit for shareholders or holding onto you for
longer, it’s time to re-evaluate.
Access the best features for you
Whether it’s an offset account, no additional fees
or Apple and Google Pay, make sure your lender can support your whole financial
system – not just your mortgage.
Ultimately, making the decision to refinance takes
time, research, and patience. Make sure you ask RealRenta so you get the best
long-term outcome for you and your home!
The information in this article has
been prepared for general information purposes only and not as specific advice
to any particular person. Any advice contained in the document is general
advice and does not take into account any person's particular investment
objectives, financial situation, or needs. Before acting on anything based on
this advice you should consider its appropriateness to you, having regard to
your objectives, financial situations, and needs.
*Calculations based on a $250,000 loan on a
variable rate taken at least four years prior to 2020.
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Friday, 11 December 2020