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The Why's and How's of Refinancing

  • andrew1767
  • May 30
  • 2 min read

With the recent rate cut from the RBA and most banks passing it on pretty quickly, it's a good time to check in on your home loan. A lot of people don’t realise just how much they could save (or do!) with a simple refinance.


If it’s been a while since you looked at your mortgage, or you’re wondering whether you could be getting a better deal, now’s a great time to find out.



It's a difficult balancing act, but having the right team on your side takes the stress out of refinancing.
It's a difficult balancing act, but having the right team on your side takes the stress out of refinancing.

Why Refinance?

Here are a few solid reasons people refinance, and maybe one or two will ring true for you:


  • Lower interest rates

    • With rates heading down again, there's a good chance you could lock in a better deal than what you're currently on. That means lower repayments and more money back in your pocket.


  • Tap into your equity

    • If your property's increased in value, refinancing might let you unlock some of that equity to renovate, invest, or just give yourself a bit more financial flexibility. If you don't need the funds, you might just be in a lower LVR tier, which can result in further rate reductions.


  • Consolidate debts

    • If you’ve got things like credit cards or personal loans hanging around, rolling them into your home loan could simplify your finances and reduce what you’re paying in interest.



How to Refinance (Without the Stress)

Refinancing doesn’t have to be a headache. These are the steps I take to place you in a more suitable home loan:


  1. Check your current loan – See what rate you’re on and if there are any exit fees.

  2. Work out what you want – Lower repayments? Access to cash? Simplify things? Knowing your goal helps shape the right plan.

  3. Know your credit – A quick look at your credit score can tell us what’s possible.

  4. Compare options – I’ll find what suits you, not just what the big banks are shouting about.

  5. Apply for the new loan – Once you’re happy, we’ll get things moving with the lender.

  6. Switch over – The new lender pays out your current loan, and you start fresh with a better setup.


Ready to Take a Look?

If you’re even a little curious, I’m happy to chat. No pressure, just a quick look to see if there’s a smarter way forward for you.

 
 
 

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