Refinancing your home loan.
Rates Are at Record Lows – See How Much You Could Save
Refinancing simply means replacing your current home loan with a new one, usually because the new terms offer better benefits.
Homeowners choose to refinance for various reasons. Some are looking to take advantage of lower interest rates and improved loan conditions, while others may want to free up cash for renovations or invest in a new property.
If refinancing is on your mind, it’s important to consider more than just the interest rate. Loan features such as offset accounts or redraw facilities can be just as important, as they help you reduce the amount of interest you pay over the life of the loan.
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 Secure a Loan That Works for You
There’s no one-size-fits-all approach to structuring your loan. The team at One Finance Co. works with you to understand your financial goals and provides the best loan structure and lender to help you on your path to financial independence. You deserve a home loan that suits your needs, so don’t settle for one that doesn’t fit — especially when there are plenty of options available!
As experts in home loans, the team at One Finance Co. is here to help. We’ll do the number crunching so you can be confident you’re getting the best deal for your unique situation.
If you’re considering refinancing, we’ll contact your current lender to try and negotiate a better rate on your behalf. If they’re unwilling to offer you a competitive deal, we can quickly identify if a better product is available to you in just a few minutes.
Don’t set and forget.
Don’t Set and Forget
- You Could Be Paying Too Much
Many Australians make the mistake of setting up their home loan and then forgetting about it. However, this could be costing you more than you realise. According to the Australian Competition & Consumer Commission (ACCC), homeowners with loans that are 3-5 years old are, on average, paying 0.58% more over the life of their mortgage than those who regularly review their loan options.
- One Percentage Point Can Make a Big Difference
Just a single percentage point difference in your interest rate can have a significant impact on how much you pay over the term of your loan. For example, a $500,000 mortgage with a 0.58% higher rate could cost you thousands of dollars more in interest over the life of the loan.
This highlights the importance of regularly reviewing your home loan and comparing rates to ensure you’re not paying more than necessary. In a competitive market, lenders often offer better rates to new customers, so it’s worth taking the time to check if a better deal is available to you.
- It’s Time to Take Action
If your loan is a few years old, you may be missing out on potential savings. Regularly refinancing or negotiating a better rate with your current lender could help you save thousands. Don’t settle for a loan that no longer fits your needs or financial goals. Contact us today, and we can help you review your options, negotiate better terms, and ensure you’re not paying more than you should.
Work with One Finance Co. and experience the difference of working with a team that puts your best interests first. Let us help you achieve your property and financial goals with confidence!
Why Work with One Finance Co.?
Expertise You Can Trust
At One Finance Co., we’re home loan specialists with years of experience helping Australians achieve their property goals. Our team is committed to providing personalised advice and tailored solutions that suit your unique financial situation.
Access to a Wide Range of Lenders
We have strong relationships with a broad network of trusted lenders, giving you access to a wide range of loan products and competitive rates. Whether you’re buying your first home, refinancing, or investing, we work to find the best option for you.
Personalised Service
We take the time to understand your needs, goals, and financial circumstances. Our team works with you every step of the way to ensure you receive the right loan structure, whether it’s for buying your next home, refinancing, or investing in property.
Save Time and Money
Navigating the home loan market can be overwhelming. With our expert guidance, we’ll do the heavy lifting for you, finding the best deals and negotiating on your behalf. Our goal is to save you time and money while helping you secure a loan that works for you.
Ongoing Support
We’re not just here for the one-off transaction. At One Finance Co., we’re with you for the long haul. We’ll keep you informed of better loan options as they become available and help you make adjustments to your loan if your circumstances change.
Your Financial Success Is Our Priority
We’re dedicated to helping you achieve financial independence. Whether you’re a first-time homebuyer or looking to refinance, we provide expert advice and support to help you make confident decisions that benefit your long-term financial future.
No Fees for Our Service
Our service comes at no cost to you. We’re paid by the lenders, so you can access expert advice and a range of options without any upfront fees or charges.
Frequently asked questions
How do I refinance my home loan in Australia?
Refinancing your home loan in Australia involves replacing your current loan with a new one, often to secure a better interest rate, change the loan term, or access equity. The process includes comparing different lenders and loan products, submitting an application, and getting approval for the new loan.
What are the benefits of refinancing my home loan in Australia?
Refinancing in Australia can help you lower your interest rate, reduce your monthly repayments, access additional funds through equity, or consolidate your debts into one loan. It’s a great way to improve your financial position.
How much can I save by refinancing my home loan in Australia?
The savings from refinancing depend on several factors, such as the difference in interest rates, the size of your loan, and the loan term. Even a small reduction in your interest rate can save you thousands over the life of the loan.
Are there any costs involved in refinancing my home loan in Australia?
Yes, refinancing may come with costs such as exit fees from your current lender, application fees with the new lender, and costs for property valuations or legal advice. However, the savings from a lower interest rate can often outweigh these costs in the long term.
How often should I refinance my home loan in Australia?
It’s a good idea to review your home loan every 1-2 years or whenever market conditions change. Refinancing regularly ensures you’re always getting the best deal and can take advantage of lower rates or better loan features.