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Refinancing / Debt Consolidation
- Are you wondering if your home loan is still the perfect fit for your current circumstances?
- Are you thinking there might be a cheaper interest rate available than your current home loan rate?
- Could you benefit from consolidating a number of debts into one loan, to save you money and simplify your financial situation?
The most important thing you can do with your home loan is to review it every one to two years, to ensure you still have the absolute best arrangement to meet your current needs.
Lenders are recognising now more than ever that people's needs change over time, and are meeting this need for flexibility with gusto!
And, in order to compete, lenders are offering great interest rates and special offers to win (or keep) your business.
Refinacing your home loan is one of the simplest, yet most effective steps you can take to reduce your expenses, and increase your disposable income. Yet most Australians make the mistake of 'set and forget', and never revisit their home loan, for the entire 25 or 30 year term of the loan!
Wouldn't you rather have extra money in your pocket every week to go to the movies or have a nice dinner out, or save towards a holiday, instead of paying this money to your lender in unnecessary extra interest?
After learning about your individual current needs, an experienced Energise Home Loans mortgage broker can advise you on whether you have the best home loan to meet your needs.
It may be possible to refinance to another lender with our help, to save you thousands of dollars in interest every year.
Or, you may even choose to stay with your current lender, and we could negotiate a better interest rate on your behalf.
Contact us today, to discuss how we may be able to assist you to save thousands of dollars on your home loan.
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A refinancing success story
Jason and Rachael had taken out a home loan to purchase a new home in 2007. At the time, they had selected a loan with a honeymoon period, to take advantage of a lower introductory rate. This reverted to the standard variable rate charged by their bank after 12 months.
In 2011, Jason and Rachael wondered if they were still getting the most competitive rate and the best loan features to meet their changing needs. The amount owed on their loan in 2011 was $580,000. They were planning to start a family, and Rachael's income would not be coming in for approximately twelve months, and their current loan didn't offer a 'loan repayment holiday' feature.
In meeting with an Energise Home Loans mortgage broker, Jason and Rachael agreed that their best option was to refinance to a different loan, that not only offered a 'loan repayment holiday' feature, but also charged 0.7% less interest than their existing loan.
By making this simple change, Jason and Rachael received the loan flexibility they needed for their current circumstances, and also saved $4,060 interest on their loan every year. This was equivalent to more than $95,200 over the remaining time left on their loan.
To refinance, Jason and Rachael followed this simple process:
- Met with an Energise Home Loans mortgage broker, to discuss their existing home loan arrangements and their current needs. This also involved completing a Current Needs Analysis Form together, to clearly ascertain what Jason and Rachael needed in their home loan
- Agreed with the recommendation of the mortgage broker to change to a different lender, that would offer a lower interest rate and a 'loan repayment holiday' loan feature
- Provided some simple supporting documentation to the mortgage broker to support the new loan application
- The Energise Home Loans mortgage broker submitted the loan application for Jason and Rachael, and kept them informed of progress of the loan.
- Once the new loan was approved, Jason and Rachael signed the new loan contract issued by the new lender, with the help of their mortgage broker, and submitted this to the bank
- Their mortgage broker coordinated the loan settlement between the previous and the new lenders, and soon, Jason and Rachael were enjoying the benefits of their new loan.
Not bad to save $95,200!
Testimonials
Nathan Leuzzi
"In all of my dealings with Brian I have found him to be, along with many other positive traits, an expert in his field who is very personable and has a high level of integrity. He has been recommended by myself to colleagues and friends who too have spoken highly of Brian and report favourably about"
Michael Choi
"Brian is a brilliant mortgage broker with a deep understanding of financial institutions and the best packages to suit individual needs."
Barbara Richmond
"Hi Brian, I just wanted to say thanks for your lovely card and bottle of champers! Thanks for all your help through the mortgage maze!"
Nick G
"I just had a great experience with Brian helping Jess and I into our first home. Brian came to us and made sense of all the paperwork etc. and then did the hard yards to find the right bank. I highly recommend for people to utilise Brian and his skills."
Peter Richardson
"I used the services of Brian recently and I have to say that he really has a good knowledge of the banking and finance industry, and he was very helpful throughout my entire transaction. I will be recommending him to my family and friends."
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Brian Rusten (Credit Representative No. M0019638 , ABN 72132125636) is a representative of Mortgage Line Australia Pty Ltd (ACN 107284677 ("MLA"), Australian Credit Licence Number 386276).
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