Now is the Time to Refinance

refinance interest rates

After the RBA’s decision this week not to increase interest rates at present – home owners should consider refinancing right now.

Refinancing your home loan 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.

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

Refinance or Consolidate Today

Now is the perfect time for refinancing while the rates are still low, and before the next rate rise occurs – as this is almost certain to happen in the next decision round from the RBA.

If you would like to consolidate debt other than your home loan, again now is a great time to do so.  Home loan interest rates are usually lower than those for personal loans and credit cards – if you have a multiple loans and/or credit cards at higher interest rates to your home loan, you might want to consider consolidating those debts into your home loan.

Debt Consolidation has more benefits than just reducing your repayment amounts.  It will also make your life a little easier as you only need to repay one loan instead of numerous and it will lower your overall interest rate which means if you are paying less money on interest, you will be left with more money in your pocket at the end of each week – obviously this will improve your personal cash flow.

If you would like to speak with a consultant to find out if refinancing or debt consolidation is the best option for you, please call 1300 138 188 today, alternatively fill out an enquiry form on the right and a consultant will contact you shortly for a free appraisal.

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

jobseeker changes
Jack Richings

Jobseeker Changes Incoming…

The Government brought in financial incentives to help Australians through the COVID-19 crisis. However, from 25th September, jobseeker changes are coming in…

Read More
personal loans with no credit check
No Credit Check Loans
Jack Richings

Personal Loans With No Credit Check

Personal loans are a great cash injection. Do you want a quick & easy option with no impact on your credit score? Consider personal loans with no credit check.

Read More
Australian Economy 2020
Jack Richings

Australian Economy 2020

Bush fires, drought, flooding & the Covid pandemic have made 2020 a year to never be forgotten. But how has this affected the Australian Economy 2020? Find out.

Read More
what is debt management
Debt Management
Diane Challis

What Is Debt Management?

Ultimate Debt Management Guide – We discuss the difference between good vs bad debt & give tips on how to escape debt. Find out what is debt management here…

Read More