Refinance an Existing Home Loan with Clark Finance Group
Take advantage of a lower interest rate, greater repayment flexibility or even snag a cashback offer by refinancing your home loan. Contact Clark Finance Group today to discover how we can help you switch to a better home loan offer.
Switch Lenders or Refinance to Save
Refinancing means changing your current home loan from one lender to another or re-establishing your loan to access extra funds. There’s no easy way to decide when to refinance your home loan, as this will come down to your lifestyle and financial circumstances. However, if you’re one of the many Australians who have yet to refinance since taking out your first mortgage, you could be missing out on an incredible deal.
At Clark Finance Group, we recommend you commit to an annual review of your current loan to ensure your home loan is aligned with your financial goals. If you’ve never done this before, our team of brokers can help you navigate the home loan refinance process.
Book a consultation and let’s talk about your existing home loan and your alternative options today.
Why Refinance?
Aside from switching over to a home loan that’s more reflective of the market, many other benefits come with refinancing your home loan. When you refinance, you can potentially:
- Improve your home loan interest rate
- Add breathing room to your household budget
- Change the way you make repayments
- Reduce your monthly repayment amount
If your property has increased in value, you may be able to
leverage equity and:
- Renovate your home
- Pay off credit cards or personal loans
- Purchase another property for investment
- Fund a vehicle purchase, training course, pay for your
child’s education or plan a holiday
Let’s run the numbers to find out what’s possible for you.
How It Works
When you decide to refinance your home loan, we will examine your existing circumstances in relation to your home, mortgage, and income.
We then review the possibilities, keeping in mind that there maybe cost implications around paying out your current loan and acquiring a new one.
Chances are there is a home loan that will suit your requirements and align with your long-term property goals.
Let us identify the most suitable options, then manage the process quickly and efficiently, from application to settlement.
Leverage Your Loan to Grow Your Wealth
Investing a small amount of money in your property has the potential to significantly increase its value.
If you refinance to a lower interest rate and borrow to upgrade your home, you could end up with a more valuable asset that costs you less to own.
Not looking to refinance? Explore our other lending options.
Aside from refinancing, Clark Finance Group offers a range of loan options and can assist you with:
- Access bridging loans
- Discover SMSF loan options
- Applying for your first home loan or new home loans
- Applying for an investment loan
Melbourne’s Refinancing Specialists
At Clark Finance Group, we aim to provide education on an ongoing basis so our clients can make well-informed choices and maximise their outcomes when it comes to refinancing.
By staying in touch with industry changes and focusing on home loans, we’re able to deliver outstanding service for our Melbourne client base.
FAQ's
Refinancing your home loan involves replacing your existing mortgage with a new one with the intention of switching to a better offer. This process allows homeowners to adjust their loan to better align with their current financial situation, potentially lowering monthly payments, shortening the loan term or accessing home equity.
Refinancing a home loan involves applying for a new mortgage to replace your existing one. You’ll go through a similar process as when you first obtained your loan, including a credit check, home appraisal and review of financial documents. Once approved, the new loan pays off the old one, and you begin making payments under the new terms, which could offer better rates or different loan conditions.
This process is made even easier by working with an experienced mortgage broker who can take the hassle out of finding the best refinance home loan for your needs. Clark Finance Group has access to more than 50 lenders, ensuring our clients receive the most competitive home loan refinance offers available on the market.
There is no definitive answer to this, as the amount you can save by refinancing your home loan depends on various factors, including the difference in interest rates, the term of the new loan and any associated costs. On average, we’ve seen homeowners save thousands over the life of the loan, particularly if the new rate is significantly lower.
Home loan brokers in Melbourne will need financial information from you to secure the right home loan for your needs. This can include proof of income (such as pay slips or tax returns), credit history, ID verification and details of current assets and liabilities. They may also require information about the property you intend to purchase or refinance.
This will depend on your individual situation. For instance, if it’s been a while since you last reviewed your home loan offer, chances are there’s a better, more competitive offer out there. Long gone are the days when the big banks are the only lending source, with new, affordable lenders emerging daily.
It may also be an ideal time to consider refinancing if you want to switch to a fixed-rate mortgage to take advantage of repayment certainty, shorten your loan term or tap into your home equity.
Loan Options
Get in touch
More information?
Book a free consultation
support@clarkfg.com.au
Phone 1300 366 670
