Mortgage Refinance

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Trust Oz Lend with Professional Mortgage Refinance Guidance

Are you are paying too much for your home loan? Mortgage refinance can, in most cases, assist you to save serious money. Today mortgage loan refinancing can be undertaken to;

  • Reduce the current monthly repayment amount
  • Shorten the lifespan of the loan
  • Move from an interest-only fixed period loan to a longer-term principal and interest loan

Current loan repayments can be reduced by mortgage refinance

Mortgage refinance can assist in moving from an interest-only fixed period loan to a longer-term principal and interest loan. Today, loan refinancing would assist you in finding a lower interest rate, which can reduce your monthly mortgage repayment amount, or if you continue to pay the same monthly repayment amount as previously paid, you will pay down your mortgage loan much earlier.

If, as is quite likely, you are paying too much for your loan, mortgage refinancing can help you save a significant sum over the life of the loan.

The key points to consider while opting for mortgage refinance are

  • Lenders make money from interest
  • A lower interest rate is not the only thing to be considered

Lenders have a monopoly on the mortgage market and you need to remember that they are more focused on their shareholders, than they are in helping you to reduce your mortgage payments. Given the current financial environment, if you obtained your current mortgage loan some time ago, your current home loan may be costing you more than it should. Also, there are many variables other than a lower interest rate to consider. when you want to reduce the overall cost of your home loan.

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Choose the Best Option While Considering Rates

A lower interest rate is difficult to resist when you consider mortgage refinance. This might be great, but have you considered fixed interest refinancing or loan splitting? There are many other points to be considered while choosing mortgage refinance. Some of them are as follows:

  • Will it be possible to make lump sum payments off the loan?
  • Is there a redraw feature attached to your loan?
  • What are the conversion rates once the honeymoon period expires?
  • What options are available for fixed-interest refinancing and what is the expiry rate?
  • Is there an offset facility connected that can assist to reduce the interest?
  • Can the loan be transferred to another property if you want to sell and purchase again?
  • What are the different costs involved if you want to sell or start again instead of substituting the current loan?

Why Choose Oz Lend for Mortgage Refinance in Melbourne?

At Oz Lend, we believe that a home loan should not be a burden on anyone. A loan needs to have flexibility, useful features, long term benefits and low-cost conversion options.

A mortgage loan that meets this criterion, will not see you waste your money, if you ever sell your home and choose to buy again.

One of the major benefits of mortgage refinance is the ability to consolidate other debts. Once you consolidate all the debts at the same time, you will improve your cash flow and better manage your budget.

Oz Lend experts assist you in finding the best mortgage refinance option that would suit your current financial situation. We will help you in choosing the best loan offers that are flexible and cost effective. These options would not only assist you in saving money, but also have superior features when compared to your existing home loan.

Call us today on 1300 438 669 to book a meeting with an Oz Lend authorised credit representative and discuss your mortgage loan refinancing requirements.