Refinancing your mortgage can open opportunities to save money, manage multiple debts better or set the path to building wealth for the future.
We live in a changing and evolving economy, this means that the “best deal” you got a few years ago when you bought your property, is not the best any more. Therefore, refinancing your mortgage comes into your radar, when you start seeing interest rates going lower than what you currently have. At this point, it is important to do a Financial Health Check, so you can make sure your Home Loan is still competitive, or look for an alternative that helps you save money.
At My Loan Choices, we help you to understand your particular situation and objectives. First, we guide you by doing a Financial Health Check. Then, we research and compare hundreds of home loan alternatives within a wide range of Lenders. Hence, we will present you the choices that match your situation, objectives and most importantly, we look competitive options that could save you money by refinancing your mortgage.
Why should I do a Financial Health Check? or consider Refinancing my mortgage?
There are many reasons to consider refinancing your mortgage, but some of them may include:
- Reduce Interest Rate in your current Home/Investment Home Loan.
- Reduce your monthly/fortnightly/weekly mortgage repayment.
- Pay your mortgage faster.
- Improve your cash flow.
You might also consider simplifying your finances by using the equity available in your property. This is called debt consolidation.
What is debt consolidation?
As experience Mortgage Brokers, at My Loan Choices we also look at what other debts you have. This might include Credit Cards, Personal Loans, Car Loans and other debts. These debts are more expensive with an interest rate higher than your Home Loan. So, we can help you to check how much equity you have in your property, and consolidate them into your home loan. The benefits:
- Reduce Interest Rate in your personal debts.
- Reduce your monthly/fortnightly/weekly debt repayments.
- Improve your cash flow.
- Simplify your finance, by making only one repayment on your mortgage, rather than multiple repayments on each debt you have.
For more information, WhatsApp Miguel at +61430020620 or book a call from Miguel.
