Newspaper article The Observer (Gladstone, Australia)

Consider Refinancing While Going's Good

Newspaper article The Observer (Gladstone, Australia)

Consider Refinancing While Going's Good

Article excerpt

Byline: Kellie Grother, Mortgage Choice

WITH interest rates in Australia at 60-year lows, now is the perfect time for those with a mortgage to review their situation and make sure they are still in the right product for their needs.

Locals who review their mortgage may not only find that there is a better product for their needs, but they may find they are able to save themselves thousands of dollars in mortgage repayments over the life of their loan.

Say, for example, you have a $300,000, 30-year mortgage with an interest rate of 5%.

If you were to review your mortgage and ultimately shave 25 basis points from your interest rate, you could save yourself more than $16,000 in interest over the life of your loan.

Before you attempt to refinance your mortgage, though, it is important to do your due diligence and research what options are available to you.

This includes looking beyond the interest rate alone.

Many borrowers will look to refinance with a lender that boasts the cheapest interest rate. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.