Refinancing your home loan may seem risky. How can you be sure you’ll get a better deal somewhere else? What about the fees and charges that may apply if you refinance?
A 2016 survey of more than 1,000 mortgage holders showed that 45% have never refinanced their home loan, for the following reasons:
- 29% – Didn’t think they would get a better deal.
- 18% – Hadn’t thought about it or didn’t know where to start.
- 17% – Thought the process would be too time consuming.
And of the 53% of respondents who had refinanced, the average time of refinance was over two and a half years ago.
At Resolve Finance, we recommend reviewing your existing home loan at least once every two years. If you think how much your life can change in a two year period, it makes sense that the home loan market is also changing, and that combination may mean there is now a more suitable product out there for you.
Your Resolve Finance broker is the best person to handle this process for you. They will consider your personal situation and seek offers in the market that may be more suitable for where you are at right now, and into the future.