Refinance your home loan in 6 easy steps
Refinancing your home loan can be a smart move, especially if your current loan isn’t working for you or you feel you’re paying more than you should be. Below, we outline the main steps involved and some key questions you should ask.
1. Know what you're looking for
The first step is to ask yourself why you want to refinance.
You might feel that your home loan lacks flexibility. Or you might be approaching the end of a fixed rate term and the options from your current lender aren’t particularly attractive. Or it might just be a matter of wanting a lower interest rate.
Whatever the case, having a clear idea of what you want out of your home loan will help you narrow your search to those that are most likely to suit your circumstances.
2. Ask your lender for a better deal
Before you commit to switching, it’s worth speaking with your current lender to see if they’re willing to give you a better deal. Depending on what you’re a...
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