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Refinancing? Talk to our mortgage brokers in Perth.

Refinancing can be a complex and confusing challenge, but our team of experienced mortgage brokers have helped people all over Perth and WA to refinance their home loans. So to help you get started, we’ve put together some of the most frequent questions Liquid’s mortgage brokers are asked by people who are looking at refinancing.

I’m being charged a higher home loan rate than I’ve seen advertised. Should I refinance? Can I change lenders?

This is exactly why most people in Perth change lenders and refinance. There may be a penalty clause in your current home loan, meaning you may need to pay a discharge fee, but it could still be a good idea to change.

When shopping around, look for the comparison rate of a product. A comparison rate is essentially the true rate, taking into account the fees and charges you will pay on the loan. Even though you see a lower rate, it doesn’t necessarily mean the repayments are smaller.

I’ve just come off a honeymoon interest rate to a much higher home loan rate. Can I change mortgage lenders and refinance, or am I locked in?

You can walk away from most mortgages, but penalty fees sometimes apply.

There are lots of types of home loans and mortgage choices to consider when refinancingfixed rate home loans, variable rate home loans, low doc homes loans and no doc mortgages. The easiest way to make the right refinancing decision is to talk to one of the experienced mortgage brokers at our Perth office.

If I refinance with a new home loan lender, is there anything stopping that lender from increasing their mortgage rates in a few months time?

It depends what kind of product you have. If you’re concerned about rising rates, maybe refinance with a fixed rate home loan where repayments are fixed for 1-5 years – Our mortgage brokers in Perth can help you decide.

Why do some lenders in Perth charge more than others for the same home loan amount?

Banks and other lenders pay different amounts for the money they lend to you. They also have different home loan overheads and profit expectations. All these factors affect how much they charge for mortgages.

What documentation do I need to refinance?

The last 3-6 months of mortgage statements is sufficient to begin the refinancing process.

It’s easy to feel overwhelmed if you’re looking at refinancing, but with a professional mortgage broker guiding you through the various types of home loans and mortgage choices, it can be easy to save money. Contact our team of Perth-based mortgage brokers with your refinancing questions and queries about how to refinance.

 






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