Is your home loan still the right one for you?
Your life can change significantly over time and so do interest rates and the type of home loans offered. It is unlikely the loan you have now will still be the best one for you in 5, 10, or even 30 years.
Rely on us to do the research, crunch the numbers, and provide professional advice on whether refinancing is right for you. If it’s simply about the interest rate and your current loan still has all the options you need, we’ll chat with your lender on your behalf to see whether we can negotiate a better rate for you.
Why refinance?
People refinance for many reasons, including:
- To get a more competitive interest rate, save money, and pay the home loan off sooner
- To consolidate debts and streamline repayments into one account, which can help save money and make paying bills easier to manage
- To access equity in your existing property for the purpose or funding big life expenses such as school fees or making investments
- To access home loan features such as offset account or redraw facilities that enable you to manage your finances better
- To shorten loan terms or change to fixed rates/variable rates
You can rely on us
We will help you every step of the way, with a smart solution and outcome for your circumstances.
We’ll do the leg work
We’ll do the research and crunch the numbers to identify the pros and cons of refinancing for you. We’ll answer the especially important question – is refinancing right for you?
Negotiate
Find out whether your existing lender can offer you a better deal
First home owners grant
Explain whether you may be eligible for the First Home Owner Grant and how you apply.
We’ll organise the paperwork
Take care of application paperwork, saving both time and hassle.
Smooth loan settlement
Coordinate a smooth loan settlement, saving you time and hassle.
Educate and guide you
Educate you on how your new loan works to ensure you maximise the benefits from it – and ultimately – pay your loan off sooner.
How does your interest rate stack up?
Your home loan is definitely not something to “settle and forget about.” Interest rates are always changing, and you want to know that you’re not missing opportunities to save money. We know it’s hard to find the time to check the market regularly to compare your loan with current offers or better rates from your existing lender. Let us do it for you.
The CFS Home Loan Health Check reviews your loan against what your current lender may be able to offer and the market to identify genuine opportunities that can save you money.
We say genuine because the savings available need to be worthwhile even after you consider the various costs and fees that may apply.
If moving to a different lender for a better rate is a possibility, we consider your circumstances and the features and benefits of the loans to ensure refinancing does not leave you without a specific loan feature that would be beneficial to you.
Simply contact us on 03 9429 9775 and have the following information with you:
- The name of your current home loan and lender
- Your latest home loan statement
- Your current interest rate and whether it is fixed or variable
- Your account balance
- Features of the loan you currently use and want to keep
- Details of other loans you may wish to consolidate within your home loan
FAQs
Can’t find the answer to your question?
Contact Us – We’re ready to help.
In a nutshell, refinancing is when you take out a new loan to replace your existing loan.
People refinance for many different reasons:
- To get a better interest rate and save money.
- To access features that your current loan does not offer such as redraw facility, more flexible payment terms, or an offset account.
- Because their fixed term is expiring, and a better offer is available from a different lender.
- To free up equity for renovation or investment purposes.
- To consolidate debts to manage finances and loan repayments better.
- To help fund a big ticket expense like a holiday or school fees.
One of the main reasons people refinance is to get a better home loan rate and save money. However, the potential to save will depend on your loan and particular circumstances.
Court Financial Services can assess your current rate to see whether it stacks up against current market offers. Most importantly, we’ll crunch the numbers to ensure refinancing saves you money even after fees and charges have been taken into account.
We’ll also consider loan features to ensure the loan you refinance offers the right mix of benefits for your circumstances.
When it comes to refinancing, we will always crunch the numbers, taking into account fees and charges to ensure there is a genuine opportunity to save money through refinancing. But some of the basics costs to be aware of are: Early exist fees, Application fee for the new loan, Valuation fee, Settlement fee, Registration fee and Lenders Mortgage Insurance.
Read more about the costs involved and what to consider here.
Once it has been determined that refinancing is right for you, Court Financial Services will prepare and coordinate the application for your new loan. We’ll do the leg work to help ensure the application is submitted and approved as quickly as possible.
We’ll need you to provide supporting documents to verify your income, living expenses, assets and identify. Once your loan has been approved, we’ll liaise with the new lender to coordinate your loan documents for signing. We’ll also liaise with your old lender to coordinate the discharge of your loan.
Once your new loan is settled, we’ll help ensure a smooth transition by ensuring you have all the information you need about your new accounts and repayments.
