When would I refinance my mortgage?

When it makes economic sense to! In the past, most people who took out a mortgage continued with it until they had paid it off. This often meant that over time their rates increased and their mortgage ended up taking much longer than it should have to be repaid. As the saying goes, banks only look after you upfront. Lucky for you, these days you can have a Broker to service you for the life of the loan, keeping the banks honest and ensuring your product remains competitive for life. Below, we look at some of the reasons people in Australia refinance their home loan. Mortgage refinancing reasons: lower rate The most common reason for people to refinance their mortgage is to get a better deal.

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