While refinancing is something many homeowners never consider, the truth is there are many very good reasons to consider refinancing an existing loan, such as:
- To obtain a lower rate – saving you money!
- To perform renovations or improvements to your home – adding value, and potentially making you money!
- To reduce ongoing fees / costs, and obtain more flexible terms – enabling you to pay your load off sooner!
- To consolidate / pay off smaller personal consumer credit debts that attract much higher interest rates, such as credit cards and car loans – saving you money, and reducing the time it takes to pay off debt!
- To use the equity in your property to invest, purchase a car, go on holiday, have elective surgery, assist children purchase a home, start a business, or virtually anything else!