Loan Refinance

A home loan refinance is a wise way to ensure you have the most effective solution and financial structure in place to suit your needs at that point in your life. With the introduction of more and more lending institutions and home loans options available, and with the competitive home loan market today, it makes refinancing much easier than in the past. There are many good reason to consider refinancing. Perhaps your financial circumstances have changed you've started a new job or are dissatisfied with your existing lender. 

Refinancing your home loan is not always driven by a more competitive interest rate, other reasons that you may look at to refinance is the type of service you get and expect from your lender, the range of options and features now available with different loans. You can even refinance to secure approval to purchase a larger house or renovate and improve your existing home.

Refinancing takes time and some times cost money. Be clear about WHY you want to refinance. decide the type of home loans you want, list the required features and do the sum to make sure you won't be worse off in the long term. As always make sure you speak to your local SHAPE home loan consultant.

Reasons to refinance?

 Am i paying to much on my current home loans?

What fees am i paying on a monthly or yearly basis?

 Am i happy with my current lender?

What service do i get and expect from my lender?

Is the interest rate to high?

Do i need reduce or added features with my loan?

Can i consolidate other loans too lower my repayments ?

Changing from a Lo doc loan to a full Doc loan?

Benefits:

·          A better home loan package to suit your needs

·          Choose from hundreds of different products on the market currently

·          Ability to set Budgets ( Debt consolidation ) and choose your own features required.

Points to Consider:

·          Fees and cost may apply in refinancing ( break fee, exit fee)

·          May not suit everyone depending on circumstances and time.