Reviewing Your Loans Videos
4 Signs It May Be Time To Refinance
Now is the time to review your home loan. Here are four signs you may be overdue for a check-up.
- You’ve been with the same lender forever
- You have no idea what a redraw facility or offset account is
- How they work
- Your personal circumstances have changed
- You’re drowning in debt payments
Please reach out – you have nothing to lose and everything to gain.
The Importance of Reviewing Your Loans
When should you review your loans:
- Your circumstances have changed, you’ve changed jobs
- Your income has changed
- You have a child that has left home and is no longer a dependent
- You have paid off some personal debt
How to Compare Home Loans and Features
How to compare home loans and features:
- Principal and Interest
- Interest only
- Variable Home Loan
- Fixed Home Loan
- Split Home Loan
- Offset Account
- Redraw Facility
When To Leave Your Lender
Here are some tell-tale signs that it may be time to part ways with your current lender and start afresh with someone new.
- Your home loan is getting old
- The honeymoon period is long gone
- Your lender doesn’t listen to a word you say
- Your needs are not being met
How do your living expenses affect your borrowing power
You may be surprised to discover that how much you spend on day-to-day living can considerably reduce the amount you are eligible to borrow, even if you are a high-income earner. So, if you’re planning to buy a home, it may be time to cut back on some of life’s little luxuries and set yourself a strict weekly budget. Here’s why.