Reasons to talk to a refinance mortgage broker about refinancing home loans Brisbane
Working with a NBHL mortgage broker to refinance is ABSOLUTELY FREE, so there is no need to concern yourself with additional costs for hiring their services. Mortgage brokers are your best shot at succeeding in your endeavour to refinance for the following reasons:
Process becomes easier
A refinance mortgage broker will do much of the tedious, difficult groundwork for you. Basically they will take the home loan search process off of your hands. As an independent, certified professional, they’ll make sure that your application process goes smoothly.
Convenience and flexibility
A major drawback when working with banks directly is that they have their own schedules that leave little to no room to accommodate yours. A mortgage broker on the other hand can meet you at your preferred location and time.
Best interest is top of mind
A mortgage broker is legally required to work in your best interest under the Best Interest Duty mandate. So you can rest assured that they will always deliver personalised service and that everything they do is for your benefit and not the lending institutions.
Mortgage refinance brokers have a broad industry knowledge base and can offer insights into the different options available to you. They can also help you compare mortgage rates and terms from different lenders, and negotiate on your behalf to get the best deal possible.
Access to exclusive deals
You can certainly search the market and negotiate mortgage deals on your own. However, a Brisbane mortgage broker may be able to take you directly to exclusive deals with lower interest rates than you’d find with a surface level online search. In short, they can get access to deals otherwise unavailable to you.
Access to a wide panel of lenders
Mortgage refinancing brokers have access to a variety of mortgage lenders, and they work with each borrower to find the best mortgage refinancing solution. In addition, mortgage brokers are familiar with the different interest rates and terms offered by different lenders to help you find the best possible solution.
Increased chances of approval
A mortgage broker can help by taking the guesswork out of the equation. They will help you navigate the often-complex world of mortgage refinancing, and can leverage their connections within the industry to get you the best possible refinance home loan options possible.
A great mortgage broker can be your teacher and will take you under their wing throughout the process. They will draw from their qualifications and experience to teach you about mortgage jargons, systems, trade secrets, and marketing trends and. They can also educate you on what to expect every step of the way.
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FAQs on Home Loan Refinance
How does refinance work?
Home loan refinancing is when you take out a new loan to replace your current mortgage. The new loan pays off the balance of your old mortgage and you start making payments on the new loan. Mortgage refinancing can be a great way to save money by getting a lower interest rate, switching from an adjustable-rate mortgage to a fixed-rate mortgage, or extending the term of your loan. It can also be used to consolidate debt or free up cash for home improvements.
Why refinance home loan?
Refinancing your home loans allows you to change the terms of your mortgage to get lower interest rates and monthly payments. In addition, you can obtain funding for home improvements, repairs, or even renovations.
Can I refinance my home loan?
Of course. A refinance mortgage broker can review your home loan health, help you assess your eligibility for a home loan refinance, and determine your borrowing power based on your financial health and records.
When can you refinance a home loan?
A good time to refinance is when you have found a better rate in the market, made conclusive changes to your lifestyle, plan on a renovation or other major purchases, want to save costs and consolidate debts, and if you have built enough equity in your home.
How to refinance a home loan?
A professional mortgage broker must have a checklist of all the documents required to help you refinance your home loan. These documents include, but are not limited to:
- Personal information and an ID
- Proof of income (tax returns if self employed, payslips if employed, and business activity statements for business owners)
- Current home loan record
- Statement of living expenses
- Statement of assets and liabilities
Do I need a mortgage broker to refinance?
You can go to a bank directly to refinance, but having a mortgage broker on your team ensures your loan process is faster and easier. They will do all the legwork for you and even negotiate for better loan terms on your behalf.
What are the costs to refinance home loan?
The costs and steps to refinance a home loan can be a straightforward process especially when you work with a trusted mortgage broker. Below are some fees you should be aware of (but not all of these may apply for your situation) :
- Mortgage application fee
- Property valuation fee
- Discharge fee
- Break cost
- Settlement fee
- Mortgage registration fee
- Exit fee
Is switching mortgage to another bank better than refinancing with my current lender?
Generally, transferring mortgage to another bank is possible part-way through your loan term. But the costs associated with switching mortgages may potentially offset the savings you could have when you refinance. Make sure to have a refinancing mortgage broker to help outweigh the pros and cons of refinancing with a different lender.
How much equity do I need to refinance?
You need to have at least 20% equity in your property to refinance to avoid Mortgage Insurance, but you can have a little as 10% equity with some lenders.
How long does it take to refinance a home loan?
There is no definite time length to refinance. But it generally takes 3-5 weeks, and could be shorter or longer depending on your individual situation..
Why Choose North Brisbane Home Loans?
5 Star Rating
Being a top rated finance broker in Brisbane, we put you first and genuinely want to help you achieve your property ownership dreams with the best refinance home loans.
We have hundreds of happy customers, find out what they’ve said about working with North Brisbane Home Loans here.
Experienced Mortgage Brokers
With more than 90 years of combined experience in the finance industry our expert refinance broker can confidently offer you the best advice when it comes to finding the best refinance home loans in Brisbane for you.
We Work For You – Not The Banks
We don’t charge any fees for our home loan refinance services, our commission comes from the lender.
So our top-rated refinance brokers are by your side every step of the way to ensure you select the best refinance home loan product for your individual circumstances.
Exclusive Partner Network
Not only do we provide you with the best advice on your home loan refinancing needs, we also introduce clients to our network of trusted partners offering discounted rates.
Save time and money searching for reliable building and pest, real estate agents, solicitors and more.
5.0 Star Reviews from Refinancing Customers
5.0 STAR REVIEWS
“The refinance of our existing home loan turned out to be a bit more complicated than we first expected with new banking regulations etc, but Pat, Di and the team couldn’t have been more helpful. The NBHL team went the extra mile for us and got us the result we wanted. The knowledge and experience of this team is clear and we always felt we were in good hands. Highly recommended.”
“The friendly and approachable service Pat and Di provided us with, made our refinancing experience stress free and very easy to get through. Taking us through the process step by step and being available to answer any questions we had, made it a seamless task. I would happily recommend North Brisbane Home Loans to anyone seeking a home loan.”
“We have quite a complex setup with multiple loan facilities, trusts and personal accounts and have quite complex requirements when it comes to credit facilities that have stumped many brokers in the past. Patrick had no problems working through it and making sure we received products that fully met our requirements and with an exceptional rate to boot. Patrick and Debbie also made the process simple and they were both an absolute pleasure to deal with. I have no hesitation in emphatically recommending them to anyone looking to refinance or restructure their finances.”
“Great service from our initial consultation with Pat until our approval for refinancing came through. We were kept up to date throughout the process and they regularly followed up with the bank during the Co-vid related delays. All the staff we dealt with were professional and answered any questions we had promptly. We would highly recommend North Brisbane Home Loans”
“I recently approached Pat and the team at NBHL for a refinance on my existing home to prepare me for a new upcoming purchase. Refinancing can be a really daunting and complicated process, the team at NBHL were so helpful and professional, they really know their stuff and made it as easy as it could possibly be… more importantly they saved me thousands of dollars in the process…I can’t recommend NBHL enough. Thanks for everything!”
Speak with the Best Mortgage Broker Brisbane at North Brisbane Home Loans for your refinancing inquiries
North Brisbane Home Loans is one of Australia’s leading mortgage refinance brokers, backed by more than 20 years of experience helping people refinance their home loans and multiple accolades.
With the services of our Brisbane mortgage brokers, you’ll get access to the best refinance home loan rates in the market and hone in on the right refinance home loan offer for your unique situation.
We offer a free, no-obligation consultation where we can discuss your current and projected financial circumstances as well as your long-term financial goals and the most efficient ways to achieve them.
If you’re looking to save money on your home loan, consider refinancing with a refinance broker and obtain the best home loan refinance deal you can possibly qualify for.
At NBHL, we’ll compare products across multiple banks and credit unions and represent you in such a way that will get you the most favourable outcomes with the shortest time and the least stress possible.