Refinances and Debt Consolidation
Refinancing
Refinancing can be a great way of reviewing your finances and getting the most out of your money. If your mortgage is more than two years old, there is a good chance that your situation has changed and it’s also likely that the market has changed and there may be products available that better suit your current situation.
Why Refinance?
- Access a lower interest rate
- Get a better and more suitable loan product with extra features such as an offset account or redraw facility etc.
- Fix your interest rate to provide peace of mind and security
- Access equity in your property to finance a renovation or purchase an investment property.
Debt Consolidation
Debt consolidation involves rolling all your debts into one loan. Debt consolidation can be useful if you have loans other than just your Home mortgage, for example a car loan, personal loan, store or credit cards.
Why consolidate?
- Reduce interest payable by switching over to a lower interest rate through your mortgage.
- Reduce overall monthly repayments
- Take control of your finances