Refinancing usually involves obtaining new loans with lower interest rates, which can be done through the original bank or a different one. Reasons for refinancing include high interest rates from the original bank, expensive additional fees, unsatisfactory services, or difficulties in securing a new loan for a new property from the original bank. Fees to both banks and the government are incurred when the new bank pays off the original loan after the refinance loan is approved. During refinancing, you may increase your loan amount, switch loan products, or extend the loan period if necessary.
Pros of Refinancing
Cons of Refinancing
ELITE Estate has grown over the past decade with a strong team, rich experience and professional services. We have several loan brokers certified by the Authoritative Australian Association MFAA.