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Refinance

Refinance

The home loan market is fiercely competitive and if you established your mortgage a few years ago, there’s a good chance your current lender is offering a better deal to new clients and hasn’t explicitly extended the same offer to you.  In some cases, securing a lower interest rate on your existing home loan is as simple as knowing what to say and who to talk to at your current lender.  We can help you with this.

If you’re not house hunting right now, we understand that the idea of reviewing your home loan may seem like too much hassle.  After all, why would you bother if things are ticking along nicely?

The thing is, it’s not nearly as difficult as you think (because we’ll do all the work for you!) and it’s definitely worth your while.

Here are just 3 ways you could benefit from a home loan review –

1. Save on interest costs (we created one client potential savings of $23,000*)

2. Save on fees and stop paying for loan features you don’t use

3. Ensure your loan is the right one for you (we can help you set up things correctly now to maximise the long term benefits)

We don’t charge you anything to conduct a home loan review – it’s all part of our service.

 

Refinancing with MO’R MORTGAGE OPTIONS

Let’s just see how it compares

New clients came to us with an existing home loan of $620,000 which was set up a few years ago to purchase their home. They were comfortably meeting their loan repayments, happy enough with the service provided by the lender but were interested to know how their existing loan compared with what we could find.

By conducting a thorough review of their personal situation, we suggested refinancing to a new lender – one who offered a loan with similar features to what they already had, but with an interest rate 1.13% lower.

Even after considering the refinance costs and establishment fees involved with setting up the new loan, in the first 3 years of the new home loan, our clients have the potential to save $23,000 in interest costs.*

Yes, you read that right – $23,000.

Don’t pay more than you need to – every little bit counts

A client came to us with $17,000 of credit card debt. They were working very hard to pay it off by paying more than minimum repayment each month.

As part of a home loan review, we suggested refinancing this to a lower interest rate.   With no increase to the monthly repayments on this debt, by restructuring it, our clients can pay it off in 17 months AND save $2,300 in interest.

In the words of our clients

“It was very easy for me as you looked after everything and took the hassle out of the process. MMO negotiated an excellent interest rate for my new mortgage and helped me to understand the process.”
-Robyn

“We saved $200 a month in interest on our existing loans, and all we had to do was call Brendan.”
-Michael & Nicole

“I received some great advice on my refinance options. Both Michael and Greg had excellent communication skills. I was particularly impressed how Michael understood my own family circumstances and how that affected by refinance options.”
-Ken

“I just wanted to pass on my thanks to you for all your help with the re-financing of my house. Your friendly, professional and prompt attention made the whole process go smoothly, and I appreciated being kept up-to-date every step of the way.”
–Jeremy

 

If you want to know more about the process or what you stand to gain by booking in a home review, download our FREE Refinancing e-book here.

Or, just give us a call and find out for yourself.

 

What Happens When You Contact MO’R MORTGAGE OPTIONS

We’ll have an initial conversation to get an overall understanding of your situation and answer any questions you might have.

Next, we’ll ask you to provide detailed information of your current financial position.  The more details you provide at this stage the better, as it will help us to clearly understand your situation and thoroughly investigate your home loan options.

We’ll then schedule a face to face meeting or phone consultation to discuss these options in lots of detail.

If you decide to proceed with a loan solution that better suits your needs, we can get the ball rolling to help you refinance your existing mortgages.

For tailored assistance to review your existing home loans, please contact us today.

We look forward to working with you.

 

*Any potential savings you stand to benefit from will vary based on your personal situation and cannot be ascertained until MO’R MORTGAGE OPTIONS conducts a thorough Preliminary Assessment of your situation.




More Information for Refinancing

RBA Interest Rate Decision – August 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here are Phillip Lowe‘s comments with respect to the Australian housing market. The latest inflation data were in line with the Bank’s expectations. Over the past year, the CPI increased by 2.1 per cent, and in underlying terms, inflation was [ Read More ]

It is time to switch to a fixed rate home loan?

Anyone thinking about locking into fixed rate loan will generally spend a little time considering the future movement of interest rates. Here we share some tools that can provide some insight into what interest rates are expected to do over the short-medium term.   Cash Rate Futures Yield Curve The Cash Rate Futures Yield Curve [ Read More ]

Is your home loan rate about to increase?

If you’ve owned a house for a few years, you’re probably familiar with the way things used to be with interest rates. The RBA would meet on the first Tuesday of each month to make a decision about the cash rate. The Board would announce their decision and homeowners would sit with baited breath, waiting [ Read More ]

RBA Interest Rate Decision – July 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here are Phillip Lowe‘s comments with respect to the Australian housing market. Inflation is low and is likely to remain so for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up [ Read More ]

Why is a lender asking so many questions about my personal situation?

The lender is asking for WHAT…. ? Long gone are the days where you give the lender a Group Certificate, sign a declaration to say you can afford the loan and walk out with half a million dollars. With the amount of documentation you need to provide to a lender these days, you’d be forgiven [ Read More ]

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