If you’re thinking about refinancing your home or investment loan. North Brisbane Home Loans is here to help you to get a better deal.
Our goal is to do the best we can for our clients, and with 90 years of combined experience our mortgage brokers know the ins and outs of home loans, to make sure we get a refinancing deal to suit you.
Why Should you Refinance?
If you’re looking for a better deal on your home loan, refinancing can help in several ways, including;
Securing a lower interest rate
Negotiating for lower repayments
Consolidating other debts into a lower rate and improving your monthly cashflow
Shortening the loan terms
Or maybe even changing your loan type (from fixed to variable interest rates or vice versa)
No matter your reason for refinancing, North Brisbane Home Loans is here to help you achieve your home loan goals.
Why Is Now A Good Time to Refinance?
Now that Australia is in a recession, the Government will be keeping interest rates low to stimulate the economy. We saw this happen during the recession in the late ‘80s and early ‘90s. During that time, interest rates dropped by a total of 12%. Currently, the RBA has dropped the cash rate to its lowest point ever, and this is manifested in the interest rates that lenders are now proposing. Many mortgage lenders are now offering great loans in the 2% range, meaning you could potentially save thousands of dollars, not just over the life of the loan, but even within the next 12 months.
If you’ve got questions about refinancing your home loan during the current recession, then feel free to reach out to our experienced team of brokers for an honest conversation. North Brisbane Home Loans have a duty of care that is reflected in the way we choose to operate. If we think your best option is to stay with your current home loan, then we won’t try and convince you otherwise. But if you’re curious about whether you could be getting a better deal, then we’re happy to have that conversation with you.
What Are The Steps Involved With Refinancing?
You may be wondering how refinancing your existing loan works, well we’re here to make it easy we’ve outlined below the steps we take to make this happen.
- Have a chat with your broker and update them on your situation: house value; loan amount; income; dependants and other debts and your living expenses.
- Talk about what you are wanting to achieve now and also taking into account 2-5 years from now.
- We then take this information and work out a strategy that may work in terms of new loan amounts, repayments, rates and set-up.
- You weigh that up and together we decide on the lender to use, based on your situation and what you are trying to achieve… and it’s important that lender we send you to can deliver on rate, set-up and process through to approval and beyond.
- And the process starts from there in terms of getting the property valued, documents to the team/ broker to assess the deal and get it ready for an application to be signed and sent to the lender for approval.
- It normally takes anywhere from 3-4 weeks to complete a refinance, depending on the lender we choose and how fast your existing lender can process the release of your mortgage.
Refinancing North Brisbane – How to Get A Better Deal on Your Home Loan
Refinancing your home loan doesn’t have to be a scary or stressful process, let North Brisbane Home Loans take the lead and you’ll be well on your way to a better deal.
North Brisbane Home Loans is Brisbane’s leading mortgage brokers with more than 90 years’ combined experience.
We offer expert advice on a huge range of services including First Home Loans, Purchasing Your Next Home, Refinancing or Home Loans for Self-Employed. Contact us today on 07 3889 9719 or enquire online today!