Need to refinance? Positive Solutions Finance can help
- Lower fees
- Lower interest rate
- Get back on top of your finances
Mortgage refinancing for every person’s individual and unique financial circumstances
Your Mortgage Refinancing Experts in Melbourne
Did you take out a mortgage some time ago at an interest rate much higher than those offered on the market today? Do you wish you could lower your interest rate and save money, reinvest or simply pay your mortgage off quicker and build equity in your home? We have the right solution for you.
At Positive Solutions Finance, we negotiate on your behalf and help you answer the following important questions about your financial situation:
- Is refinancing the best move for you right now?
- How easy will it be to gain approval for a new loan?
- What type of mortgage is best suited to your new needs?
- What is the cost of refinancing?
If you have multiple debts such as credit cards and personal loans, you can consolidate these into a new mortgage. Instead of having to juggle multiple repayments and try to keep track of repayment dates, you will only have one repayment based around your budget. Refinancing your mortgage can provide an opportunity to streamline your debt and reduce the overall interest you’re currently paying on multiple debts. It gives you the opportunity to fold several high-interest debts into one lower rate debt, such as your mortgage, which can reduce your total monthly repayments.
What Does Refinancing Your Mortgage Involve?
The process to refinancing your mortgage simply involves drawing down on a new loan to pay an existing one that’s usually held by another bank or lending institution. You then continue to pay off the new loan instead of the previous one. Refinancing your mortgage can help save thousands on interest, fees and provide you with a more flexible repayment schedule suited to your budget.
How Much Does it Cost to Refinance Your Mortgage in Melbourne?
The costs involved in refinancing your home loan differs depending on your individual situation. You’ll most likely need to pay exit fees, title insurance, appraisal, taxes and transfer fees. When considering a refinance, it’s vital to determine whether or not the savings you’ll get from a lower interest rate will offset the costs you’ll incur. Make sure you read the fine print on your current home loan’s terms and conditions to see if some or all of these costs will apply to you when you refinance.
Why Should You Refinance Your Mortgage?
- Get a lower interest rate. The lower your rate, the lower your repayments.
- Unlock more features. Features like additional repayments, a redraw facility, portability and offset accounts can help you save on interest repayments.
- Unlock equity. If you’ve been paying off your loan for a while this money is called equity, which you can access through a line of credit home loan in order to purchase another property, renovate your home or buy a car.
- Consolidate your debts. Juggling a few debts can be hard. Debt consolidation lets you roll your existing debts into a single, manageable loan. If done correctly, you can save on fees and reduce the amount of interest payable by combining your debts into a single repayment with a competitive rate.
Refinance Your Mortgage in Melbourne with Positive Solutions Finance
With years of experience in the industry, Positive Solutions Finance provides a wide range of debt relief and lending solutions to help you in Melbourne. We:
- Understand that providing flexibility, confidential and quality service can be just as important as obtaining a low interest rate,
- Have positive relationships with many lenders across Australia which allows us to negotiate the right home loan for your financial circumstances,
- Do all the work for you, saving you work, time and stress. You can sit back and breathe knowing the experts have everything under control, and
- Advise and help you to navigate through account fees associated with refinancing your mortgage, such as application, ongoing or exit fees.
To get the most out of mortgage refinancing in Melbourne, contact Positive Solutions Finance today on 1800 40 3328. We will help guide you through the refinancing process and get your finances back on track.