You may be eligible for a lower rate on your home loan and we’re available to set the confusion straight.
At a time when Australians are being inundated with data, it’s easy to be overwhelmed trying to work out what the right next move is.
LJ Hooker Home Loans lending specialists are there to provide the ‘know-how’ to help you kickstart the process. We’re not a bank, and offer more than a traditional broker service with access to a wide range of property data and home loan options to help with your financial goals.
The cost of confusion
When it comes to refinancing there are a range of reasons why those who can, haven’t done it yet. But for most Australian mortgage holders it starts with feeling confused and, unfortunately, that could be coming at a financial cost.
Recent research conducted by CoreLogic found 4 in 5 (78%) Australian mortgage holders are confused about refinancing, with 13% saying they don’t know what it is at all.
What’s more, 44% of mortgage holders say they have never even considered refinancing, despite 7 in 10 (69%) believing now is a good time to look into it due to low interest rates.
The “right” time to refinance
Is there ever a right time for anything? Well, with the official cash rate currently sitting at a very low 0.10%, and plenty of home loans offering rates that start with a ‘2’ and some with a “1”, it may be a good place to start.
Add to that many Australians having additional time on their hands due to recent restrictions and changes to working patterns, and an increasingly uncertain financial outlook for millions of Australians, and it makes a compelling case for looking into a ‘home loan health check’ by one of our lending specialists.
Our lending specialists are local professionals with the right qualifications and can outline what’s involved in the process, guide you through the steps in detail and help you understand what’s available on the market, while assessing what you’re eligible for.
Improving your interest rate by 1% through refinancing could put the equivalent of $2,000 tax-free into your pocket each year, based on an average mortgage of $400,000.
That’s money that could be placed in your offset account to further reduce your interest, reduce pressures on household finances, or be saved for a rainy day.
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Cut through the complexity
The CoreLogic research found that more than half of Australian mortgage holders (52%) believe using a lending specialist outside of a bank will help them find the best rate, while 45% believe it will help them better understand their options.
The prospect of refinancing may seem overwhelming, but we’re here to take the complexity and confusion out of the process.
Our lending specialists support you through the process from start to finish and will take into account your individual circumstances while investigating whether your current home loan is the right one for you, right now.
It all starts with a simple phone, web, or in person chat.
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This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.