Refinance

Typically, a refinanced loan has a lower interest rate.

This lower rate, combined with the new, longer term remaining on the loan will lower payments.

Mortgage refinancing is a popular option for two main reasons:

• Reducing the amount of monthly repayments by extending the mortgage period.
• Taking advantage of lower interest rates to reduce the overall true cost of the loan.

By consolidating some of your other debts into your mortgage, you could save thousands, even over a short period of time. Some of our recent clients have managed to save $1000, $2000 and more per month, and still pay their mortgage off sooner.

Economic changes have a significant impact on remortgage prospects. Anyone interested in refinancing their mortgage should take steps to not only get the best deal, but get any deal at all. The truth is, conditions for remortgaging will change dramatically and this may be the last chance to save money and take advantage of lower interest rates offered by lenders.