Should I refinance? What to consider…
My lender is charging me a higher home loan rate than I see advertised elsewhere. Can I change lenders?
|I have just come off a ‘honeymoon’ interest rate to a much higher rate. Can I move lenders or am I locked into my mortgage?
You can walk away from most mortgages, although penalty fees sometimes apply.
|If I move my mortgage to a new lender, is there anything stopping that lender from increasing their rates in a few months time?
This depends on what kind of product you have. If you’re concerned about rising rates, perhaps you should consider a fixed rate home loan, where repayments are fixed for a period from 1 to 5 years.
|Why do some lenders charge more than others for lending the same amount of money?
Banks and other lenders pay different amounts for the money they on-lend to you, they have different overhead structures and different profit expectations. All these factors affect how much they charge to lend people money.
|If you are after more information about the refinancing process or you would like information for your specific situation please contact Adrian Waller on 0408 677 757 or email at Adrian@accountableloans.com.au to arrange a time to discuss.|