Refinancing refers to the process of changing your current home loan to another one that suits you better. At Nectar we don’t just set up your mortgage and walk away; our brokers are there for the long-haul, to review your mortgage arrangements regularly and discuss options that might work better for you as your life and circumstances change.
Refinancing could improve your financial position
> Refinancing by consolidating your debts could allow you to repay other debts that incur higher interest rates (see following example).
> It could let you take advantage of lower interest rates.
> If your income has changed, refinancing might allow you to reduce repayments or, conversely, to repay the loan more quickly.
> Refinancing can unlock equity in your existing property which could be used to reinvest in another property, renovations, or in a business.