Re-Financing

Life With a Little More Money

There are many reasons to consider why you should refinance. If your circumstances change, your existing loan may no longer be the most suitable for your needs. Other common reasons to refinance are to lower monthly commitments, either with finding a loan that costs you less or consolidating other higher-interest debts, such as credit cards into a home loan. Rates on their own do not provide enough reason to change as there are frequently costs to switch to another lender.

Some of the options are described in the sub-menu on the left. Why not give us a call to see if you can save in your current repayments? Or perhaps you could benefit from a loan which has features to make management of your finances easier. You have nothing to lose by making an enquiry!

Cash When You Need It

As a homeowner, you have a great opportunity to make the most of equity you have built in your home. You can use the equity to manage your finances wisely. For example, you can consolidate various debts such as high interest rate credit cards and personal loans into one loan at a low residential rate. Some possibilities are –

• buy a car
• finance the kids education
• home improvements
• investment such as deposit on another property, funding share purchases

This may be a good time to look at other loan products to ensure that you have the loan that best suits you. Or you may elect to simply increase your existing loan. Whichever you decide, we can guide you through the options.

Exploring the Options

The type of loan and features you choose could save you money. By reducing your borrowing costs, you’ll have the money for other important things or pay your loan off faster. Rates on their own do not provide enough reason to change as there are costs to switch to another lender.

We can review you loan to see whether it is worthwhile refinancing or even switching your loan to another product with your current lender. If you are considering refinancing, there should be a benefit to you to make the exercise worthwhile. Why not give us a call to see if you can save in your current repayments? You have nothing to lose!

Simplifying the Picture

Sometimes juggling commitments to meet credit card payments, car payments and personal loans becomes tedious and time consuming particularly when the due dates for payments fall at different times. It becomes even more stressful when the commitments fall due but your income has not yet arrived to pay these commitments.

Loans secured by your property can be a very cost-effective solution, as the interest rate charged is usually considerably less than interest rates charged on credit cards or personal loans. The savings on interest can alleviate pressure on household budgets and you can put these savings towards paying the loans off faster, or improve your cash flow for other things. Let us show you how you can be better off!

Add Value

Renovating your home can be a cost-effective alternative to selling your home and buying a new one. Money saved on property stamp duty and conveyancing for a new home can be used towards renovations and save you the trouble and expense of moving. It can be a rewarding experience, adding comfort and value to your home.

Spending money on wise-renovating is another way of building equity in your property.
However, before starting, questions you should ask are – will you be adding value or will you be over-capitalising? Will you be better off selling?

So that there are no nasty surprises, it is best to get firm quotes from tradespeople or builders. Depending on the size of the renovation, builders will usually add a margin for contingency, which is an allowance for a variation from the price quoted.

If you are undertaking any structural work, you will need plans and council approval.
Home-owners are often faced with cost blow-outs which is why most lenders insist on fixed price contracts to ensure that when you embark on your project, it is completed within budget.

It is also wise to budget for the unforeseen. Problems such as old and potentially dangerous wiring, rusty plumbing and other defects cannot be detected until your tradesperson or builder starts on the project exposing these problems. If you have not undertaken a renovation before, make sure you do as much research as possible. You may want to use the advice of an architect, interior decorator and visit your local building centre. Advice from your local council can be very valuable even if you don’t need a building permit.