Home Loan Refinancing

There are many reasons why people choose to refinance. Here are a few:

• Get a lower interest rate.
• Update features of the loan such as flexible repayments or use an offset account.
• Access equity. This gives you options to use your money elsewhere e.g. renovate or purchase an investment property.
• If you are reaching the end of a fixed term rate period and want to shop around.
• Consolidate debts. Managing your finances can be time consuming so consolidating debts such as credit cards and personal loans can often be moved into your mortgage so it’s easier to manage.

Refinancing is a great way to ensure you are still getting the best deal for your situation, as over time our needs change and the banks rates and offerings do too. We recommend that you consider assessing your loan situation every 2 years to ensure you’re not paying too much or if a refinance could simplify your current situation in some way.

JKK solutions are experts in home loan refinances and we have been helping customers save money for many years. We are a passionate and dedicated team who pride ourselves on our friendly and professional service and help that we provide. When you choose JKK solutions for your home loan refinance, we:

• Compare home loans that offer a better rate for you.
  We have excellent relationships with the banks and can easily find the best home loans on offer.
• Explain your options around loan features, fees and charges and find the most suitable for you.
• Find ways to save you money on your repayments
• Make changing loan providers a simple process, we will deal with the banks on your behalf and simplify the application processes
• We have extensive experience in the banking industry, which enables us to deliver the best service and results. Take a look at our Google Reviews to see what our customers say about us.

While the process of refinancing itself is actually free of charge to you, there may be upfront or ongoing costs connected with your current home loan that will need to be paid. This may include a mortgage registration fee, exit fees or settlement fees. We will go through what fees are associated with your loan and take them into consideration when reviewing a new loan plan ensuring you are getting the best mortgage option.

To speak to us about your refinancing options please get in touch by phone, email or by filling in your details below. We are sure we can find you the best options for your home loan – and if we don’t – there is no charge to you for exploring the options so you have nothing to lose.

At JKK we will handle it all for you. Here is a summary of the process required for home loan refinancing:

1.  Understand what is required of a new mortgage. E.G. Better interest rate, more flexibility etc.
2. Review lender options to find new mortgage conditions that may be more suitable for you
3. Ensure any fees associated with exiting the current mortgage are considered and making the change is worthwhile
4. Once a suitable mortgage is found the application process will begin which is the same as applying for a new mortgage. This involves providing documentation including ID, bank statements, payslips, tax returns
5. Submit the application. Once this has been completed the lender may want the property to be valued. This will be organised by the bank and the mortgage broker and someone will come to your home to provide an estimated home value to the bank.
6. The new lender will submit a discharge form to your state’s Land Title Office requesting to close the old mortgage account.
7. The new mortgage will be used to pay off your old mortgage
8. You will be all set up with your new home loan and you will begin paying this off

To find out more about refinancing your loan, please get in touch with our friendly team. Contact us via email info@jkksolutions.com.au or phone (03) 8849 0131.