Refinancing a home loan or commercial property loan can often result is considerable savings if the current loan has grown uncompetitive or inflexible.
In times of increasing variable interest rates where fixed rates are lower a saving can be achieved through insulating the loan from further increases by entering into a fixed interest rate term.
The main issue is how to determine which option could be the most suitable for a given situation and how to actually measure the differences. A finance broker who has access to advanced loan comparison software which is attached to an extensive and up to date home loan information database can really assist clients when these questions arise.
There are literally thousands of different home loan products and options available today in Australia from a wide range of banks and mortgage mangers.
Every home loan product has different terms conditions fees charges and costs entailed and comparing like products on a level playing field is often difficult.
A finance broker consultant using an industry leading software package can often help customers quickly make better informed decisions than they would normally be able to in a limited amount of time.