While most home renovations are funded by refinancing the mortgage, a smart way to do it is to look at a personal loan as it can offer the borrower more flexibility.
I’ve never been an advocate of fixing a home loan, it’s been my experience that so many things can change over a typical fixed rate period, that locking in for three to five years is just too lengthy.
WITH the major lenders all dropping their fixed rates in the last few weeks, it’s a good time to consider whether locking in a rate is the way to go.
While increasing competition in the home loan market may have been its aim, the Federal Government’s decision to ban exit fees may have the opposite effect.
Unlike many complacent homeowners, Jason Billsborough and Simone Grounds have refinanced their loan twice since 2006, saving money and cutting the length of their mortgage along the way.
Aussie has seen a surge in the number of customers looking to refinance their mortgages following the RBA’s rate rise and CBA’s 0.45 per cent hike announced on Melbourne Cup Day last week.
Home and apartment owners should be looking to refinance their loans to offset the higher costs to the mortgages caused by the Reserve Bank’s decision this week to lift cash rates by 0.25 per cent, according to the Executive Chairman of Aussie Home Loans, Mr John Symond.
Despite interest rates going up and down like a snakes and ladder board in the last two years, the majority of Australians have not looked to refinance their home loan – potentially costing thousands of dollars by not doing so. According to new research commissioned by Aussie, only 7.2 per cent of respondents refinanced their More…
Inertia among mortgage holders is extremely common. Many are content to sit on higher interest rates (or worse, aren’t even aware what interest rate they’re on) because they think refinancing is too hard, takes too long and may not save them any money in the long run. However, it does pay to be proactive about More…
Aussie has seen a surge in the number of customers looking to refinance their existing mortgages and potentially get a better deal as the effects of five rate rises by the Reserve Bank begins to bite at family budgets. The number of homeowners visiting the website www.aussie.com.au to request an appointment with an Aussie broker More…