Refinancing Mortgages

Mortgage Refinancing Central Coast

While refinancing is an effective tool for borrowers who have been hit by rate hikes, care needs to be taken before making this decision. One of the most important consideration for borrowers is the impact of any fees that may be applied, such as:

  • Establishment
  • Exit
  • Application
  • Valuation
  • Stamp duty
  • Ongoing charges
  • Mortgage discharge
  • Mortgage registration
  • Mortgage insurance
  • Legal fees
  • Legal disbursements

Refinancing can be a positive option if:

  • Your current rate is not competitive in the market
  • A major change has occurred in your financial circumstances, eg. work
  • You are looking for additional funds to renovate or invest in another property
  • You require greater flexibility to easily access equity
  • You are switching to a fixed rate to reduce risk of increases and save money
  • You are wanting to consolidate other debts, eg. credit cards