Refinancing is basically switching your old home-loan to a new loan with better rate of interests and the one that is best suited for you. Earlier, switching your loans was a biggest nightmare for the people of Australia.

They have to pay heavy exit fees to lenders if they wish to refinance their loan which discouraged them to take refinance loans although they were not happy and satisfied with their current loans.

But, the scenario changed for the good after 2011 when the Federal Government outlawed exit fees after that (except for loans written before 2011), making refinancing much easier.

There are many reasons that encourage you to refinance your home-loans

Your financial position has now been upgraded:
When you first took a home-loan you were not in a better financial position but now things have changed for you and you have become financially sound and is in a better position to look for a new home loan offer suited to you.

Your LVR has changed:
When you took a first home loan with a small deposit of 10% or even 5%, at that time you probably didn’t get the absolute best interest rate around, since the best offers at that time were reserved for borrowers with LVRs of 80% or below. And now, you’ve paid off some of your loan and your LVR has decreased, so you may be able to get a better interest rate.

You want to access more beneficial features (such as offset accounts):
When you were taking the loan for the first time you didn’t wanted it to be a complex one so you opted for a simple loan. But, now that you’ve had that loan for a few years you might want to refinance to an option with more features like an offset account, extra repayments or a redraw facility.

We are one of the leading mortgage broker who have access to many different lenders and wide variety of products. Our team of brokers have years of experience in the field and guide you at each and every step and help you choose the best product with enormous features. We make sure the whole –process should be hassle-free for you. With us, you are at the right place and we make sure to do the best for you