BECAUSE circumstances change regularly the attraction of paying less interest on a home loan/mortgage or investment property loan for some is a simple decision.
However when looking at refinancing you should always remember there may be costs involved in paying out your existing loan and establishing a new one. It is imperative that all the figures be carefully checked and that you seek independent advice before proceeding.
Aside from the benefits of a reduced rate there are a numerous other benefits such as:
- The ability to access extra cash through taking out an equity loan.
- Consolidating other debt and credit cards.
- Borrow extra to purchase an investment property.
Refinancing in today's home lending market is a lot easier than it has been in the past.
So be clear about your goals, choose a type of loan from one of the hundreds of loans listed and use our calculators to make sure you won't be worse off in the long-term.
Let a ratesonline broker contact you about refinancing.
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