There are many reasons why you may want to refinance an existing loan. These include:
- Lock in a lower rate to reduce future repayments.
- Debt consolidation to allow a single monthly repayment obligation.
- Reduction of the loan term to become debt free at an earlier date.
- Extension of the loan term to reduce monthly obligation.
- Equity access to finance other investments
If you require refinancing of an existing loan, you are best served by engaging professionals such as Oz Lend, who can provide advice, support and the benefit of years of experience to make the process much simpler for you than it would otherwise be.