Rates have never been lower. See what you could save.
Quite simply, refinancing is the process of taking out a new home loan to replace an existing one, typically because the terms of the new loan are more favourable.
When homeowners refinance, they do so for a variety of reasons. Some may choose to take advantage of better rates and terms offered by the new lender, whilst others might want to renovate their homes or put down deposits on an investment property.
If you are thinking of refinancing, it’s wise to consider loan and product features – such as offset accounts or redraw facilities – which are just as important as a competitive rate. It’s important to understand how these features can help you reduce the amount of interest you pay over the term of your loan.
Refinance to save money and get a home loan that suits you
There’s no one size fits all when it comes to structuring your loan portfolio. The team at Auspak works with you to set financial goals and provide the best possible structure and lender to become financially independent. You’re entitled to a home loan that suits your needs. You don’t have to settle for one that doesn’t properly meet them, especially when there are different options available!
The team at Auspak are the go to experts on home loans. We will crunch the numbers so you can be sure you’re getting a deal that suits your situation.
The team at Auspak will contact your current lender and try to negotiate a better rate on your behalf, and if your current lender won’t budge on your rate, we can let you know in just a few minutes if a better product is available to you.
Don’t set and forget.
You could be paying too much.
The Australian Competition & Consumer Commission (ACCC) suggests Australians with loans between 3-5 years old are paying an average of 0.58% more over the life span for their mortgages
One percentage point can make a world of difference.
If you have a $600,000 home loan at a rate of 3.20%, and you’re paying 0.58 percentage points more than the best rate available to you, you’re paying more than you need to be in interest. An average of $290 more a month, on a 30 year loan term.* Wouldn’t it be better to put that money into savings, not interest payments? It could soon add up to pay off any unsecured debts, the first year of school fees, or even a deposit on an investment property.