In today's competitive home lending market, the process of refinancing your home loan is much easier than it used to be.
There are a number of reasons why you might consider moving your home loan from one lender to another. It may be that your financial position has changed, your current interest rate is no longer competitive, or your existing lender is no longer responsive to your needs.
Whatever you're looking for CENTURY 21 Home loans is here to help. Here are just some of the reasons refinancing could be ideal for you.
Why refinance your home loan?
- A better home loan
- Home improvements
- Debt consolidation
- Releasing equity for investment
- Tax benefits
A better home loan
Home loans have become far more sophisticated in recent times. Features such as offset accounts, lines of credit and account splitting can provide you with far greater flexibility when managing your home loan.
With that in mind, CENTURY 21 Home Loans will work with you to find a home loan that will give you a competitive interest rate and meet your financial needs. In addition, you can rely on customer service offering you fast indicative approval and 24 hour access to your loan through internet and phone banking services.
Home improvements
When you're renovating your home, chances are you won't have to pay all of your suppliers up front. So when payments are due at various intervals, you need a flexible home loan that allows you to make payments when required. Chances are, we have exactly the loan you'll need. Just take a look at our Loan Types.
Debt Consolidation
If you have other debts at different interest rates, or savings you could use to repay them, then debt consolidation is an option to consider. Generally, home loan interest rates are lower than those for personal loans or credit cards, so consolidating your debt into your home loan could save you money.
Releasing equity for investment
Borrowing money to invest may be an effective way to build your wealth because you can increase the size of your investments and magnify the returns you achieve.
In general, because home loan interest rates are lower than interest rates on other types of loans, one of the most effective ways to access funds for investment is through your home loan. By releasing equity in your home, you can free up funds for other investment opportunities, such as investment property, shares and managed funds.
With that in mind, you should speak to your accountant, tax professional or financial adviser to determine how releasing equity in your home could help with wealth creation.
Tax benefits
You may be able to enjoy tax benefits by purchasing an investment property or shares. So again, it makes sense to speak to your accountant, tax professional or financial adviser to determine how refinancing your home loan could benefit your tax situation.