Why Refinance

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  • CHANGING FROM A NON-BANK TO A BANK OR FROM ONE BANK TO ANOTHER-PERSONAL SERVICE,POLICY GUIDELINES ARE DIFFERENT
  • UNHAPPY WITH CURRENT PROVIDER FOR VARIOUS REASONS INCLUDING:
  • BETTER INTEREST RATE-PAYING HIGHER RATES CURRENTLY
  • BETTER OVERALL LOAN STRUCTURE (FLEXIBILITY TO CHOOSE BETWEEN FIXED & VARIABLE RATE LOANS)
  • ABILITY TO MAKE SOME EXTRA REPAYMENTS
  • BUYING ANOTHER PROPERTY
  • HELPING A FAMILY MEMBER BUY A PROPERTY
  • BORROWING ADDITIONALLY TO – RENOVATE/UPGRADE/EXPAND/BUILD/IMPROVE
  • DEBT CONSOLIDATION – CAR LOAN,C/C,HP,PERSONAL LOAN,OTHERS

THERE ARE A FEW OTHER REASONS. WHEN CONSOLIDATING DEBT –WHETHER REFINANCING OR NOT- NEED 6 MONTHS REPAYMENT HISTORY OF LOANS BEING CONSOLIDATED/REFINANCED

SHOULD HAVE SUFFICIENT EQUITY TO BORROW ADDITIONALLY

SHOULD HAVE ENOUGH INCOME TO SERVICE ADDITIONAL BORROWINGS

IS PROPERTY ACCEPTABLE TO NEW LENDER?

COSTS INVOLVED: EARLY REPAYMENT FEES IF ON FIXED RATE TERM OR EARLY EXIT FEES IF WITH A NON-BANK LENDER (CHECK LOAN TERMS), ADMIN FEES, VALUATION, SOLICITOR, and NEW SET-UP OF
AP ‘S, LENDER’S FEES, LOW EQUITY PREMIUM IF LVR OVER 80%

SOME OF THE COSTS ARE EXPLAINED

how can we help you?

Call Satish at Mortgage Mantra – Registered Financial Advisor