I have been receiving a lot of refinancing enquiries lately so I thought I would update you on this particular topic and where all the banks are sitting after the last 4 rate cuts.
You will see from the below summary they are all extremely similar so it’s not always a case of rushing over to the fanciest deal you see online as there may be some hidden factors that should be considered.
- Lower repayments
- Lower your interest rate
- Change loan structure (e.g add offset account)
- Change loan product (change to investment loans)
- No longer satisfied with current bank
- Increase facility to invest or for renovations
- Access increased equity
- Fixed period or interest only period expiring
- Increase your borrowing capacity
- Consolidate loans and debt
If you’re keen to discuss why refinancing your home loan, for whatever reason, we’d love to hear from you. In the meantime, here is a comprehensive list of lenders and their recent rate cuts.
