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Refinancing

Refinancing refers to changing your home loan to a new one that matches your current financial situation.  It can be done internally (with the same lender) or externally (with a new lender). 

Wanting a better interest rate, to consolidate debts into one & to access equity are just some of the reasons people choose to refinance.

Before going ahead, it’s important to do your homework and seek professional advice to ensure it’s the right decision.  A mortgage broker will conduct a feasibility study that incorporates the interest savings & switching costs to ensure it is worthwhile.

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“We first met Hilary 14 years ago and the Miss Mortgage team has been looking after us ever since. We have refinanced several times and they are always responsive, efficient & trustworthy... highly recommended!”
— Estelle & Michael Buzzard
 
 
 

Refinancing could save you thousands of dollars each year!

 
 
 

What about the switching costs?

The cost of refinancing is usually minimal provided you have at least 20% equity in your property (as no Lenders Mortgage Insurance will be charged).   A summary of all the government & lender fees will be provided to you upfront.  Provided your current loan is variable, there will be no penalty changing lenders.  It’s only when you are wanting to refinance from a fixed loan that a break cost may apply.  

Refinancing can allow you to access the equity in you home to pay for family holidays, school fees or upgrade your car.  It can also allow you to renovate your property which could in turn add to its value.  

If you are thinking of refinancing but are unsure about your equity position, we can arrange an upfront valuation at no charge.  This will help us assess your borrowing options.

Interested in refinancing?

Let’s chat!

 
 

Testimonials

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“We have been a client of Hilary’s for over 10 years and have refinanced several times. Hilary has always acted in our best interests, delivering great packages that suit our needs. Excellent customer service and professionalism. We highly recommend Miss Mortgage & Associates.”
— Tanya & Brad Ford
 
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“Hilary is super efficient. She always gave us good advice and helped us make the right decision in regards to lender and loan type. I have been trying to refinance my loan for a long time and Hilary has been very helpful in achieving this. Thanks Hilary and thanks to Ellen for referring Miss Mortgage to us.”
— Chandru Rajaram & Saranya Chandrukannan

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