Refinance your home loan with Finance Bloom
We will assess and compare your loan with hundreds of other mortgage brokers in Auckland, taking into consideration rates, fees, and features to ensure that you get the loan that’s best for you.
When should you get a home loan health check?
- If you haven’t reviewed your home loan in the past 2 years
- If you want to use equity from your house to invest in another property
- If your interest rate is more than 3%
- If you need to do some renovations
- If you want to save more every month on your repayments
Why consider Refinancing your home loan?
There are several reasons why we don’t have the time to refinance our investment loans or our mortgages. We generally don’t have much time due to the daily demands of work, kids, sports, and family to follow the financial markets, which are continuously impacting interest rates and the deals provided by lenders. The length of your home loan can frequently be significantly shortened by a.05% shift in interest rates, thus this must be taken into account.
Due to continual rate changes made by banks and other lenders in the market, refinancing a home loan or an investment loan is an option.Lenders may alter your interest rate for a variety of reasons, including Reserve Bank adjustments, market liquidity, and their own desire for profit.
Consumers are taking advantage of the enhanced viability in the market and more competitive rates as a result of the introduction of new banks into the sector by refinancing their home loans.
You can reduce the amount of interest you pay to the bank by refinancing. You can choose to keep making the same payment after refinancing, which will result in a shorter loan payback and much lower interest rates, or you can bank the savings in repayments.
Depending on your financial position, refinancing and existing loan may create an opportunity for further investment or a second property.