If you’re thinking about refinancing your home loan, you’ll want to cover your bases first. It’s the kind of decision that can impact your long-term financial position – so we want to make sure you have the right information, and you’re asking yourself the right questions.
Reviewing your home loan is a smart way to ensure you’re getting the best value for your money. Even if your home loan is locked in, there’s always room to move. Have a chat with your lender to see if changes can be made to your existing loan. You might find that a simple interest rate change could save you from refinancing at all. You can also book a home loan health check with our dedicated lending specialists to review your current home loan and identify opportunities to save you money.
An offset account is a home loan with a transaction account attached to it. The way it works is that the balance in your offset account is subtracted from your home loan balance before the interest is calculated. The more money you have in your offset account, the less interest is charged on your home loan. You can even have multiple offset accounts to split your living and other expenses. Our offset calculator can help you see how much time and interest you could save on your home loan with an offset account.
No matter how appealing a home loan is, it’s important you’re still saving money or reducing your home loan term. Here are some points to consider:
When you apply for a credit card, your bank has to be satisfied you can repay the limit at its interest rate within three years. If you’re applying for a new home loan, or refinancing, this can actually impact how much you can borrow. You’ll want to review your credit card commitments so that you’re either reducing or paying out your debts as early as you can.
Refinancing with a new lender means you’ll go through the full home loan application process with them. Typically, you will need to provide the new lender with
If you’re interested in our competitive home loans, download our Home Loan Checklist to make sure you’ve got everything you need, then move onto our Home Loan Application form. If you’re looking for a second opinion on your home loan, we can help with that too.
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