Refinance

Refinancing your home loan

Refinancing your mortgage with the support of a home loan broker can provide several significant advantages. Track Home Loans can assist you in exploring options to lower your home loan repayments, prepare for potential future rate rises, and reduce the principal amount of your home loan by maintaining your current repayment levels. Additionally, a home loan broker can help you access equity from your property for renovations or as a deposit for an investment property, as well as consolidate debts such as car loans or credit cards into your home loan at a reduced interest rate. We can also help you take advantage of lender promotions, including cash-back offers. For instance, Track Home Loans recently helped a client save $32,000 annually on her home loans, highlighting the substantial savings potential. A home loan broker streamlines the process by offering clear loan comparisons and handling paperwork, including the discharge of old loans.

Should I refinance my mortgage?

There are numerous reasons why you might consider refinancing your mortgage with Track Home Loans, and it’s not solely about reducing your home loan interest rate and mortgage repayments. By refinancing your mortgage, you can:

• Lower your home loan interest rate to reduce your mortgage repayments
• Lower the starting point of your home loan interest rate to prepare for future RBA cash rate increases
• Reduce the principal loan amount owing on your mortgage by decreasing the interest rate while keeping repayments the same
• Access the available equity in your property to fund renovations or extensions, increasing the value of your home
• Utilise the available equity in your property as a deposit and cover costs to purchase an investment property
• Reduce your other debt costs by consolidating car loans, credit cards, or personal loans into your home loan at a lower interest rate than your current unsecured debt
• Secure the best refinance home loan by switching to another lender when a fixed interest rate period ends, rather than automatically rolling onto their variable interest rate product
• Receive a cash-back promotion from a new lender when you refinance, which can assist with mortgage repayments or property improvements

Track Home Loans can help you explore these options and find the right refinancing solution tailored to your needs.