Refinance Home Loan

Refinance

At Star Homeloans, we assist our clients with the best options for refinancing at every step, ranging from debt consolidation to saving money on interest. You can get in touch with us for a fast refinance process.

Have You Ever Reviewed Your Mortgage?

If you haven’t reviewed your mortgage for over two years, it means you are spending your money more than necessary. However, to avoid paying unnecessarily, we suggest our clients refinance when it is the right time. It is recommended that you should consider reviewing your home loan every two years, or in any of the given below situations:

You got an increment on your salary/or a new job
You’ve lost your job
You’ll have more family members in the future
Your children start earning to support themselves
Maximising or minimising property value
Changes in interest rate
At the end of the period of fixed rate

It is quite hard to review a mortgage, but mortgage refinance brokers will support to get it easily done. If you avoid reviewing your mortgage, then you may miss on some savings. We would like to help you get the best mortgage for your needs.

Generally, you have to take a new loan to pay your current home loan, either with your current lender or via a different lender. If you are thinking of refinancing, then our refinance mortgage broker can assist you.

Debt Consolidation

Debt consolidation can help you reduce your monthly cash flow to manage the loan in a wrapped-up recurring payment. In addition to this, debt consolidation can help in consolidating your high-interest personal debt at a low-interest home loan rate, which in turn can help with managing your loan, and as a result, there will be less of your monthly payment will go as an interest.

Save Money with Better Interest Rates

If you want to save money, then it can be done on your monthly interest to pay off your home loan as an owner-occupier. Balancing your monthly P&I repayment and minimising your monthly interest rate is the best strategy to reduce your debt. You can enhance cash flow on your investment property with the help of Interest Only repayments by minimising your interest charges.

Restructuring Debt

Refinancing is one of the best methods to restructure current debt related to events like divorce, changing of title ownership, tax advice and transfer of property.

FAQ

What is refinancing?

With the help of refinancing, you can change your home loan to match your new requirements. Starhl Homeloans suggest reviewing your mortgage by your mortgage broker to evaluate whether the original home loan you selected is still the right option for you or not.

How does refinancing work?

When you take a new home loan, you may use all or some funds to pay your existing loan. The new loan may come from different lenders, but some people refinance with their existing lender. If you switch to a new lender, then that lender will be responsible for paying your existing loan.

Why do people refinance?

The following are some reasons why people go for refinancing:
Making home improvements or renovating a house
Paying off your loans or debts such as credit cards by converting them into your home loan
Getting a cheaper rate, even if you have to give up a few loan features
To get cash to buy new things such as a car
You want to move from a variable rate to a fixed rate because you want to minimise high payment risk

What are the benefits of refinancing?

To manage your money, refinancing is the best method. The following are benefits of refinancing:

With the fixed rate, you can have peace of mind that you know what your repayments will be every month
By getting access to a lower interest rate, there will be a reduction in monthly repayments
Minimise your monthly repayments overall by consolidating personal loans, credit cards or other loans into a lower rate loan

Possibility to pay your debt faster with more flexibility

When to refinance my home loan?

You can refinance your home loan by reaching us today. You can compare different refinance home loan providers as well.