One of our first steps in our refinancing process is to request the best possible rate from your existing lender. In some instances, this will result in an immediate rate reduction which immediately starts saving you on loan repayment costs. However, this does not mean that it's the best in the market. With lenders competing constantly for new home loans, we find that every few years your home loan could be costing you thousands of dollars. Once we’ve reviewed your current rate, we can set out to find the best refinancing solution for your home loan.
To help you get the best result for your home loan, we need to understand your refinancing goals. Is it simply an interest rate reduction you are looking for or is there something more? You may be looking to restructure your debt, release equity, add an offset account to your loan or change to a variable or fixed rate. Knowing your needs helps us tailor the right refinancing advice for you.
Based on your refinancing needs, we’ll provide you with the best loan options from the over 30 different banks and lenders we work with. This document will outline the different scenarios and rates available, give you the information you need to make the right decision and put you in the control of your home loan journey.
Once the lender and structure is chosen, we will then prepare the home loan application forms and submit them to the bank for approval. Our track record for home loan approvals is fantastic as our finance team conducts a full review before each loan is submitted.
Once refinancing is approved, we will start the process of transferring the loan from your existing lender to the new. This includes processing your discharge forms, as well as coordinating with the two lenders to make sure the transfer of your title and creation of the new loan are carried out smoothly and on time.
Once settlement for your refinanced home loan is complete, our work is still not done. Our finance team provides ongoing reviews of your mortgage rate and home loan structure to assess whether future steps will be of further benefit to your repayment journey.