Property ownership is one of the largest commitments many people will make in their lifetime. Once you sign on the dotted line, you are responsible for a monthly mortgage payment for many years to come, as well as maintaining the value of your real estate.

It is for this reason that it is important to regularly monitor the state of your home loan. Over the years, your financial situation can change dramatically and there can be several new options available on the market.

With this in mind, it is advisable to arrange a home loan health check every year with Sue, your Trusted Mortgage Broker to ensure your bank is still looking after your interest rates.

Covering the cost of renovations

One of the most common reasons for refinancing existing home loans is to use existing funds for renovations or additions to property and at the same time get a better deal on your interest rate.

Accessing your home equity can make it possible to modernise your home and add value in the event of a sale.

Lower interest rates

It is possible to consolidate your debts to take advantage of lower interest rates being offered on the market. You may wish to seek credit advice from Sue, your Trusted Mortgage Broker about your options.

Find a better deal

For some property owners, it may be worth switching home loans or even lenders to get set up on a mortgage plan with more value.

Even if the immediate tasks of filling out paperwork and reorganising your financial plan seems overwhelming, it could save you thousands in the long run.

Whatever the reason for home loan refinancing, it is worth speaking to Sue, yourTrusted Mortgage Broker about the specific requirements for doing so.

Estimating the immediate costs against future savings can shed light on your finances and help you to make the best decision possible regarding your mortgage.

Trusted Mortgage Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan. Have a look at our calculators on our website to help you further. www.trustedmortgagebroker.com.au/calculators/

About the Author

Sue Hayter

Sue's service commitment is fantastic. At Trusted Mortgage Broker we work with our clients to ensure they understand their options, know exactly how much they can borrow and ensure they choose the right home loan and the right lender that is not unsuitable to their individual needs.

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