Refinance

Get The Lowest Interest Rates

Today is a fantastic time to take advantage of historically low interest rates.  Refinancing can save you thousands of dollars in interest payments and get you a much better mortgage rate.   Maybe you’ve got a bad mortgage you want to get out of, are struggling to make your monthly payments or want to free up some cash, if so, refinancing could be for you.

When you refinance your mortgage, you are paying off your original home loan and replacing it with a new one with more favourable terms.  There are many other reasons to consider refinancing, such as:

  • Paying off a mortgage faster.
  • Consolidating other kinds of debt.
  • Changing lenders.
  • Taking advantage of additional home loan features not available in your current loan.
  • Accessing the equity in your home to build additional wealth through buying an investment property or through renovations.

Whatever your goal, the experts at iMortgage Broker Brisbane can help you accomplish it through refinancing your mortgage.

Refinancing Considerations

While refinancing can make good financial sense, the process is not always straightforward.  For example, refinance solutions are not created equally and rates can vary from lender to lender – and when it comes to a mortgage, which is most likely your biggest debt every percentage point matters. Refinance rates are determined by a number of factors, including the length of the loan, the amount of equity in the home and the credit score of the individual.  Lenders are extremely cautious these days and will go through your financial track record with a fine-tooth comb.  Then there are the costs of refinancing, which include valuation fees, application fees and settlement fees.

There is a lot to take in, which is where the experts come in.

Expert Hand-Holding

At iMortgage Broker Brisbane we take the time to understand your needs and personal circumstances and what you want to achieve through refinancing.   We’ll look at all your options, clarify the costs involved and highlight all the benefits you can make.  We are with you every step of the way, a friendly and expert presence that is on your side and always on hand to answer your questions and address any concerns you may have.  After all, you are making a big step when refinancing, one that needs some expert hand-holding.

How to Refinance with us

Your iMortgage broker will review your financial situation and compare options from many different lenders.  During this part of the process they will be able to tell you whether you will benefit by refinancing or if you are better off staying with your current loan.

Once you have selected a refinancing solution, the process works in very much the same way as when you applied for your original mortgage.

You provide the broker with your supporting documentation (such as pay slips) and they will complete the application form and lodge it with the lender.  This not only ensures that everything is filled in correctly and nothing is missed, but it also saves you a lot of time.

When the new loan is approved, all the documentation will be checked and reviewed by your broker, ready for you to sign.  Then your new lender will pay off your old loan and receive the title deeds to your property.  Meanwhile, a Discharge of Mortgage document will be placed with the Land Titles Office in your State or Territory.

In summary, our advisors will:

  • Assess your borrowing capacity.
  • Determine whether refinancing is right for your situation.
  • Search for the best and most suitable refinancing solution for your needs.
  • Negotiate a competitive rate for you.
  • Detail the costs of refinancing.
  • Answer all your questions ensuring there are no surprises.
  • Complete all the paperwork.

 

Contact Us Today

If you want to know more about refinancing, please get in touch with us today.  We are ready to chat about any part of the process.  Call us on 07 3062 8446 or fill out the simple online form.