Refinance your Loan

We're here to help you Refinance your Home Loan or Investment Loan

Refinancing your mortgage can be a game-changer, and at Margin Finance, we make it easier than ever. Based in Moodee Ponds, our expert mortgage brokers help you access loan options from banks and lenders across Australia, ensuring you find the best fit for your financial situation.

Refinancing offers many benefits, including accessing a lower interest rate, reducing your loan repayments, and finding better loan options. Whether your fixed rate period is ending, or you're looking to release equity in your property, our team can guide you through the process. You can change your loan term, consolidate debts, or release equity to buy your next property.

Our streamlined application process takes the hassle out of refinancing. We'll help you gather necessary documents, such as bank statements, and guide you through every step. Our mortgage brokers will check your eligibility for special lender policies, ensuring you have the best chance of approval.

At Margin Finance, we have access to banks and lenders nationwide. This means we can provide you with a wide range of options, from variable interest rates to fixed interest rates, ensuring you find the best refinance interest rates available.

Your financial situation and credit history are unique, and so are your refinancing needs. Our team will work with you to determine the best loan amount and terms that suit your goals. Whether you're looking to reduce your loan repayments or access equity, we have the expertise to find the right solution for you.

Ready to explore your refinancing options? Contact Margin Finance today to speak with one of our expert mortgage brokers. Based in Moodee Ponds, we’re here to help you achieve your financial goals with ease and confidence.

Factors to Consider before Refinancing

Before you choose to refinance your mortgage rates, you need to have in mind the knowledge of certain factors so that you don’t end up with even more losses. Mentioned below are some of the same factors to consider

• Your Credit Score:

You must be aware of your credit score as of right now. Lenders who offer mortgage refinancing have raised the bar for loan approvals in recent years. It may come as a surprise to some customers that they are not always eligible for the lowest interest rates, even if they have excellent credit.

• Refinancing Cost:

There are a few options for borrowers to lower the fees associated with refinancing a mortgage, which typically ranges between 3% to 6% of the total loan amount (or incorporate them into the loan). You can roll the fees into your new loan and raise the principal if you have sufficient equity. 

A "no-cost" refinance is something that certain lenders provide, but it usually involves paying a little bit more on your interest rate to cover the closing fees.

• Current Interest Rates:

Compare the current interest rates to the rate on your existing mortgage. Refinancing typically makes sense when you can secure a lower interest rate, but it's essential to consider how much lower the rate needs to be to justify the costs of refinancing.

• Loan Term:

Determine whether you want to shorten or lengthen the term of your loan. Shortening the term can help you pay off your mortgage faster and save on interest in the long run, but it may result in higher monthly payments. Lengthening the term can lower your monthly payments but may increase the total interest paid over time.

• Break Even Point:

When deciding to refinancing rates mortgage, it's crucial to determine the breakeven point, which is the monthly savings that equals the refinancing fees. Your monthly savings are all yours after that.