Settlement day officially concludes a homebuyer’s long-winded journey of finding the perfect house, and begins the promise of a new life in their new home. Does this also mean the end of the line for you and your mortgage broker?
Not exactly. The job of home loan brokers Brisbane doesn’t necessarily finish post-settlement. They can actually provide you with on-going support like getting you an interest rate review or even a refinancing home loan for renovations!If you didn’t know that keeping in touch with a mortgage broker Brisbane can add value well after you move into your home, then it’s high time that you reap the benefits of doing so.
So what actually happens after settlement?
After the settlement is completed, you take the keys from your real estate agent and get cosy in the house of your dreams with your family.
In a perfect world, that would have been the end of story — but interest rates for Brisbane home loans have been rising at record levels, Brisbane homeowners are selling and buying homes at record prices, and more and more people are opting to refinance.
Nowadays, it makes perfect sense for homeowners to have continuing relations with North Brisbane mortgage brokers so they can have professional advice around stuff like refinancing a mortgage, selling and purchasing property, and so much more.
How can a refinancing mortgage broker help you post-settlement?
Great mortgage brokers act as trusted advisers and don’t stop caring once your property has settled. Here at NBHL, we conduct regular reviews on our clients loans to ensure they are getting the best rate within the current market.
Case in point: we reviewed a client’s Loan in Enoggera and saved them $5586! This is $107’s worth of weekly savings in interest repayments: what could you do with an extra $107 a week?
And in just half a month we saved clients $21,029 off their home loans in interest!
Below are the ways using a North Brisbane mortgage broker can help you after your loan settlement:
• Tap equity in your home. A mortgage broker Brisbane North can check your property value and determine if it has increased so you can access and unlock equity in your home to finance your renovation project or invest in a new property.
• Maximise the features of your home loan. Your home loan liabilities will be assessed by a mortgage broker. And based on this assessment, they can help you expand your options by informing you of unused features (e.g., offset-redraw facilities, top ups, management tools, etc) in your loan that you can leverage to fit your personal circumstances, especially during major lifestyle shifts.
• Save on the total cost of your home loan. A mortgage broker on your side is a fantastic way of improving your overall financial health. They can help you consolidate your debts, reduce your monthly repayments by getting you a new interest rate, make extra repayments, and simplify your borrowing situation overall — potentially saving you tens to thousands of dollars in the process.
• Organise the change of details of your home loan. You can ask your mortgage broker to change your:
1. payments from Principal and Interest to Interest Only
2. fixed interest rate to variable interest rate (and vice versa)
3. discharge or remove your lender from your Certificate Title after having paid your loan in full
Refinancing a home loan. You may have thought of looking into other home loan offers from your current lender or a different one as you approach the end of the fixed rate period of your mortgage. A mortgage broker can help you refinance your home loan.
What is refinance? And what is a refinance home loan?
Refinancing means moving from one type of mortgage to another to change interest rates or payment terms. This can be done with your current lender or a new one. Your mortgage broker can help you replace your existing mortgage and switch to a better loan solution, a.k.a. a refinance home loan, to pay off your existing mortgage balance.
How is a NBHL mortgage broker able to do all of these things? We can do this all for you after performing a home loan health check.
Home loan review: explained
A home loan review or health check is an evaluation done on your current home loan. Things like repayment amount and type, interest rate, home loan statements are reviewed and compared with the other home loan products in the market.
A home loan health check helps you find the right mortgage refinance deal.
You need to get your home loan checked to determine whether your home loan is still serving your financial goals or not, and if you’re better off with a different mortgage to help you save money and be more flexible with your options.
The team at North Brisbane Home Loans conducts a free home loan assessment for our clients and anyone wishing to refinance and negotiate better deals throughout the life of their North Brisbane home loans either with an old or new lender.
It takes about 15-20 minutes to complete. To enquire for a home loan health check with us, we only need your property address, documentation of your repayment details to check your outstanding balance. And information on your current income and other debts to see how we can help.
On the lookout for the best refinance home loan? Let the mortgage refinance brokers from the North Brisbane Home Loans help!
The mortgage refinance brokers at North Brisbane Home Loans brokers can answer any of your questions about finance, deposits, interest rates, the approval process and choosing the best refinance home loan for your unique circumstances.
Call us on 07 3889 9719 or contact us today for the right finance advice.
Patrick Cranshaw, a Certified Mortgage Professional for over 21 years, founded North Brisbane Home Loans in 2002. His career began with ANZ Bank in New Zealand, where he progressed over 16 years to a Business Banking role in Virginia. After moving to Brisbane in 2000, Patrick led the QLD market for a home loan agency, helped set up the REMAX Real Estate Finance division, and practiced as a broker.
