There’s a little thing that I call ‘complacency tax‘ – it’s where you are paying more than you should be, purely because you have stuck with the status quo. It can be applied across all areas of personal finance – bank accounts, superannuation, personal insurances, car/home/contents insurance etc – but the biggest area I see it having a negative impact on peoples budgets is their home loan. Avoiding ‘complacency tax’ is one reason for considering refinancing, but let’s take a closer look at other reasons why refinancing your home loan is something you may consider. Continue reading
Refinancing refers to the process of paying out your current home loan, either with your existing lender or through a different lender. You can get a lower interest rate and reduce your monthly repayments or you could fix your rate for certain period and have the security of fixed monthly repayments. If you would like to refinance your loan, below is a step-by-step guide.Continue reading
Refinancing your home loan can help you achieve important goals. It can be a great way to access home equity to invest in other areas such as investment property, shares, or managed funds. Refinancing can offer you the chance to take advantage of more flexible features if your circumstances have changed, or if you’ve had your home loan for a few years.Continue reading
Do you think that refinancing is too hard? Have you checked your mortgage recently? Whether you’re looking to lower your monthly repayments, restructure your loan or access more flexible options, refinancing may be a viable option.
With the general perception being that it’s complicated, expensive, and best left in the too-hard basket, there are many myths surrounding refinancing and here are three common myths about refinancing that you need to be aware of.Continue reading
You’re probably wondering if now is a good time to refinance your mortgage. So, how do you really know when it’s time to refinance? According to most experts, it is recommended that you conduct a financial health check at least every three years and that you also review your home loan at least once a year.
But then again, how do you know if it’s time to refinance? Should it be as soon as you’ve sourced a better rate or should it be when your existing mortgage no longer matches your needs? It can really be a difficult question to answer yourself. To help you with that, this article will cover some points for you to think about before deciding on whether it’s time to refinance your mortgage or not.Continue reading
In order to save money, mortgage holders are looking to refinance. But most of them don’t take the time to do their homework and therefore, resulting in not being able to save as much as they could have.
Before deciding on a loan, take a look at the do’s and don’ts first if you think you can find a better home loan and if you are considering refinancing.Continue reading
Refinancing your mortgage is not as scary as you imagine. So, how do you get on board and save more on your home loan? According to a new research, the number of mortgage holders considering refinancing continues to grow over the past year. The latest housing finance data from the Australian Bureau of Statistics (ABS) shows that the number of home loans being refinanced increased by 20% in the past twelve months.Continue reading
So you’re wondering if refinancing your home loan is right for you? Well, the principles behind refinancing are simple. The usual motivation is to get the best deal possible in terms of interest rate and fees. You’re probably looking for more affordable repayments or to pay your loan off sooner. But whatever the reason, if you’re considering moving your loan from one lender to another, you need to make sure that your next home loan ticks all of them.Continue reading
Finalising your home loan and buying your first property is a huge relief. It’s all over… no more providing documents to the bank, no more forms to sign, no more solicitors to deal with… the hard work is done. However, that doesn’t mean that you shouldn’t keep an eye on home loan. Kevin met with Pearl Financial for a routine ‘Home Loan Health Check’ and, to his surprise, discovered that he could save $425 on his monthly home loan repayments.