Has your situation changed and your home loan no longer works for you? Would you like a better deal and save money?
There is no specific time or blanket rule about when a loan should be refinanced, however it would be beneficial to review your loan every couple of years. To make sure that your interest rate is still competitive and that the loan still has the features you need
Benefits of refinancing a home loan include
- Consolidating your debts
- Better deal/interest rate
- Using equity for home renovations, holidays, operations, etc.
- Loan features such as Offset accounts