Refinancing

Refinancing means switching from one loan to another, often with changes in rate, features, or term. You might stick with your current lender or switch to a new one. People do this to snag a better rate, tap into their home's equity, combine debts, or gain additional features.

There are several factors that could lead you to consider refinancing. These may include:

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1. Finding a rate that gives you better value for your money!

2. Unlocking your home's equity

3. Consolidating your debts

4. Finding better fixed rates for better cashflow

5. Improved credit score allowing for better home loan rates

Many lenders provide introductory rates and cash back incentives to attract new customers. While these deals can save you money initially, it's important to balance them against the overall long-term cost of the loan and whether it's better than your current or alternative options.

Choosing the best home loan to refinance to involves looking at the bigger picture. We at Unity Mortgages will take into account factors like loan structure, features, term, fees, and ongoing rates to find the ideal option for you.

Now you can see that not all loans are created equal, and there are various factors to consider when comparing your current loan to others available in the market. By taking proactive steps with your current lender or considering refinancing, you might not only save money but also discover a loan that aligns better with your needs.

Whether interest rates are on the rise, falling, or remaining stable, keep in mind that lenders are eager for your business and there could be enticing options out there. Remember, if you don't ask, you don't receive.

We at Unity Mortgages can handle all the hard work for you. Just a quick chat is all it takes, and your broker will handle the rest.