As some of the big banks have raised their interest rates higher than the Reserve Bank, many Australians are looking for a way to defuse their mortgage stress.
By refusing to pass on all interest-rate reductions, inflating the Reserve Bank’s increases or adding hikes of their own, the banks have widened the gap between the cash rate and their key interest rates by as much as 1%.
If you’re struggling with home loan repayments you may want to consider refinancing your home loan. Refinancing can allow you to access cheaper interest rates or even unlock the equity in your home to renovate, buy an investment property or consolidate debt. The Australian Lending Centre has years of experience helping people to refinance to achieve these goals.
Refinancing can really take the pressure out of your current financial situation. We believe that every person, regardless of past credit issues (such as a bad credit rating), should have the opportunity to improve their financial position by refinancing a loan.
Some of the advantages of refinancing a loan include:
- Lower monthly repayments when you refinance
- The ability to pay off multiple debts through refinancing schemes
- Reduced risk by changing from a variable rate to a fixed rate when you refinance•Access to cash to cover major expenses when you refinance
To find out how refinancing can assist you, contact us today on 1300 138 188, alternatively fill in an enquiry form to the right and a consultant will contact you shortly.