The do’s and don’ts of refinancing

Are you considering refinancing your home loan or investment loan? Maher Group has prepared a list of the Do’s and Don’ts of refinancing to assist you in making the best financial decision.

It’s important to remember all information provided here is of general nature and you should contact us regarding your individual circumstance.

Do…..

Consider why you need to refinance

Are you currently paying a high-interest rate and want to reduce these? Are you looking to alter the term of your loan? Let us find you the loan that best suits your needs.

Research

Be sure to contact our accredited broker, Scott who will assist you in researching the most appropriate loan product. He will be able to run through the proposed loans features and benefits and align them with your goals.

Consider the term of your loan

You may consider refinancing to reduce or increase the term of your loan. We may be able to assist you in varying your loan repayments to suit your current circumstances. 

Approach your mortgage broker right away

Seek advice from our team before approaching your current lender as we have access to multiple lenders and products which they are unable to offer.

Refinancing & saving money

Refinancing has additional costs such as establishment fees for the new loan and exiting fees for the old loan. It is important to speak with a mortgage broker as they will factor in any extra costs, ongoing fees and features that may impact your potential savings.

Cash Rebates

We have access to a whole panel of lenders which are currently offering cash back incentives for refinances. By coming to us, we will be able to determine who has the best offer which aligns with your requirements.

DON’T…..

Don’t contact your bank first. Let us see if your bank is doing the right thing by you or if there is a better deal out there.

If you have any questions about refinancing, don’t hesitate to contact us and discuss with our team here at Maher Group