Refinancing with confidence
Considering whether or not to refinance your mortgage? We’ll assess the circumstances and offer you our truthful opinion.
Get free mortgage advice
Refinance Home & Investment Loans
Are you paying higher interest than others? Refinancing your current mortgage can lower your monthly payments with a lower interest rate. Lower Finance can assist by performing all the search tasks on your behalf.
Refinancing your mortgage using the equity
Most of the time, you will need equity in your home to complete this process. Most banks and lenders will utilise a 20 percent equity threshold as a basic guideline. However, it may be able to do this without equity if you have a good credit history and rating.
Refinancing your mortgage with no equity
The first step is to keep a clear record of your payments and any credit and debt payments. Only people with solid credit histories will be considered, so make sure all your payments are current—preferably ahead of schedule. There are choices available, such as getting mortgage insurance, but doing so will increase your payments.
The best approach to complete this process without equity is to delegate responsibility to a reliable mortgage broker, like Lower Finance. Through our network and adept negotiating abilities, we can find the best deal for you with the help of more than 30 banks and lenders.
When to Refinance home loan
It is essential to regularly check your present interest rate to make sure it is still competitive in a market with rising rates. Your current lender is not likely to inform you that there may be a better rate available that would be more acceptable, and this is where our differences come into play.
As a client of Lower Finance, your structure will be reviewed annually to ensure that your loan remains competitive. We will also work behind the scenes to nudge your present lender to keep your interest rate as competitive as possible.
Tips to help you benefit from refinancing
You might be wondering where to start when hundreds of refinancing alternatives are available. We’ll discuss your case and, if necessary, set up a free bank valuation before analysing what our lender panel has to offer.