WE ARE THE BEST MORTGAGE BROKERS FOR REFINANCING

There are a few benefits to refinancing;

• Potentially lowering your interest rate

• Potentially lowering your repayment amount

• Potentially access cashback incentives

• Releasing equity for specific uses

• Consolidating personal debts into 1 easy to manage payment

Refinancing can extend your loan term but it doesn't have to

If you extend your loan term even with a lower interest rate you would need to consider if the monthly savings outweigh the increased interest paid over a longer period.

You can request a loan term that suits your current goals and time frames.

Refinancing may not always equate to significant savings. Consulting Fundi Finance, your specialist refinancing broker, can offer crucial insights beyond just comparing interest rates and will help determine in refinancing is something that could be beneficial for you

Here's what we can do:

• Deep Dive Analysis: We'll delve deeper than just your existing loan and potential refinance options. We'll consider the costs of refinancing your home loan, loan terms, your financial goals, and potential market fluctuations.

• Benefit vs. Cost Clarity: We'll go beyond just comparing interest rates and clearly explain the benefits you can expect compared to the associated costs involved in refinancing.

• Material Gain Evaluation: Ultimately, we'll help you determine if the calculated net benefit of refinancing is material enough to justify the process and its impact on your finances.

Remember: Refinancing isn't a one-size-fits-all solution. We will let you know if there is no benefit for you to leave your existing loan.

There are fees associated with a refinance,

Your current lenders discharge fee - Varies from lender to lender

Your states mortgage registration and discharge fees

Set up fees at the new lender

We usually say that the cost to refinance in QLD will range anywhere between $500-$1,200

This varies daily, with new deals and offers being released depending on which lender is being aggressive in acquiring new business.

Usually there is at least one bank offering a cashback offer.

Most lenders will offer competitive rates for you to switch.

For more information what deals are on the market today, please contact us

Banks will often incentivize new customers by offering them cashback offers.

These offers are usually somewhere between $1,000 and $5,000.

This is a one off payment that gets paid directly to the customer after the refinance has been completed.

These are designed to offset the costs of refinancing while also providing a sweetener for going to the new lender.

Debt Consolidation in simple terms is bringing all of your existing debts under one facility to make them easier to manage.

This works with home loans as a home loan usually provide lower interest rates than most other credit types.

If you have enough equity availble in your property this may be a way of helping you reduce your repayments.

You need to be mindful that you will be taking the other smaller debts over a home loan term (typically 30 years) so this can in some cases mean you will pay more to do this. The trade off is that it can leads to small repayments in the short term.

When you sign up to a fixed rate home loan, you are basically agreeing to your lender that you will remain in that loan for the term of that fixed period - typically 1-5 years.

So if you want to leave this loan prior to the finishing of that agreed period, the lender will want to receive the interest that they would receive over the agreed period.

There is cases when a lender will let you break from a fixed rate at no cost, this is usually when the interest rate that you are on is lower than what you would be going to.

This doesnt happen very often.

If you are considering trying to break out of a fixed rate loan, contact your local mortgage broker.