Number low-interest levels don’t be around permanently, so if youre currently unsatisfied along with your rates it could getting worthy of refinancing and getting a much better package. Thats what of a lot Australians are currently undertaking in the event that latest data is almost anything to go by.

Depending on the most recent investigation regarding the Australian Agency off Statistics (ABS), $ million property value home loans was indeed refinanced from just one lender to help you various other throughout the – one of many highest previously account recorded from the Abs.

Yet not, refinancing a residential property mortgage is a bit bit distinct from refinancing a manager-occupier loan. Listed below are five things should know prior to protecting a better package.

Even when refinancing so you can a better rates can save you money along the song, it will initially charge a fee a bit of money. There are many costs which are linked to refinancing, such as the software payment, release fee, settlement fee, mortgage membership commission, hop out commission, etc. Continue reading →