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Make Your Money Go Further with Refinancing

by Direct Financial
in News
on 04 July, 2017
Hits: 228

The decision to refinance is made when people realise their current loan is no longer best suited to their financial situation.

Wanting a better interest rate, consolidating all debts into one and equity access are just some of the reasons why people choose to do so.

 

 

 

What is Refinancing?

Refinancing is when you change your current home loan to a new one that satisfies your current financial situation. It can either be done internally (with the same lender) or externally (with a different lender).


What are the benefits of Refinancing?

Refinancing can allow you to access the equity of your home to cover major costs such as school fees or a family holiday. It can also allow you to renovate your property which could in turn add to its value.

 

Will Refinancing save me money?

The most common reason consumers choose to refinance is to gain better interest rates. However, make sure you tally up all the fees involved in switching loans to see if you are saving a enough to make the process worthwhile.


How much money can I borrow when refinancing?

The amount varies for each individual as it is based on income and current financial situation. Using our online calculator can give you a ballpark amount, but for a more accurate figure, speak to us about what is possible.

Before going ahead with the decision to refinance, make sure you’ve done your homework and seek professional advice to see if it’s the right choice for you. 

 

If you would like more information please fill out this form, and we will get back to you shortly.

 

 

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