Central Coast Finance Services

Refinancing

Every single day we talk to people asking whether it’s worth refinancing their home or investment property loans. Our response is always the same – it’s always worth thoroughly investigating!

Here’s why:

Save money!! Your mortgage is most likely the single biggest expense in your household budget, taking a great big chunk out of your hard earned money each and every month.  Often, it is the single biggest area where you can make savings.

Increase cash-flow – if you are able to refinance to a lower interest rate, this will help to free up money that you can put towards other things. You might choose to buy a new car, book a holiday, enrol the kids in those previously too expensive extra-curricular activities, or keep your repayments the same and pay off your loan more quickly.

Realise the equity in your property – often, it’s not until you have your position professionally reviewed that it becomes clear just how much equity has accumulated in a property over time. This can often open up possibilities that hadn’t previously been considered, such as the opportunity to undertake renovations, buy an investment property or start a share portfolio.

Make it easier to hold your investment property – Although the interest expense on investment properties is generally tax deductible, often the out of pocket expense on repayments over and above the rent each month can sometimes make it hard to afford to continue to hold the property. Reviewing the loan and securing a better rate can often make things more affordable, and sometimes it can mean the difference between continuing to own it and having to sell.

Your personal circumstances have changed – you may have recently married, had children, separated from your partner, or found a new job. All of these life events should be triggers to check for savings or different home loan features that might be better suited to your new circumstances.

There are no prizes for staying where you are! Sadly, it has become normal practice for lenders to offer their best rates and specials to new customers, whilst thinking that their existing customers won’t notice. This often means that the longer you stay with a lender, the less likely it is that you will be receiving the best they can offer you.

When you choose Smart & Simple to assist you with your ‘next home’, we’ll look after:

  • Preparing and submitting the loan application on your behalf, and ensuring you are presented in the very best light to the lender
  • Preparing and submitting the Discharge Authority from your current lender(s)
  • Monitoring your loan application through to approval
  • Checking your mortgage documents and explaining each of them to you before you sign
  • Ensuring settlement takes place on time
  • Following up post settlement to make sure everything is working correctly

Talk to a finance specialist you can trust

Call 1300 391 787 today or complete our quick contact form

Talk to a finance specialist you can trust

Call 1300 391 787 today or complete our quick contact form

Mortgage & Finance Broking Services Kim Hall Credit Representative Number: 436756 | KM Hall Pty Ltd | ABN: 32 160 899 141 Credit Representative Number: 431565 Centrepoint Lending Solutions Pty Ltd | Australian Credit Licence: 377711 ABN: 40 100 947 804 www.cpal.com.au/cls | cls@cpal.com.au 1300 557 598 Privacy Policy | Disclaimer | Complaints Procedure

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