Strategic Mortgage Broking Relationships for Accountants

At Axton Finance, we understand that every individual’s financial situation and homeownership goals are unique. That’s why we offer a diverse range of home loan options tailored to meet your specific needs. Our home loan products include:

• Variable Rate Home Loans: With interest rates that fluctuate based on market conditions, these loans offer flexibility and potential cost savings over the long term.
• Fixed Rate Home Loans: If you prefer stability and want to lock in a consistent interest rate for a set period, our fixed-rate loans might be the ideal choice for you.
• First Home Buyer Loans: Designed to assist first-time homebuyers, these loans often come with favourable terms and government incentives to help you get started on the property ladder.
• Investment Home Loans: If you’re looking to invest in property, our investment home loans provide options to help grow your property portfolio with a tailored structure that meets your cash flow needs.
• Refinancing Solutions: We also offer refinancing options to help you secure a better interest rate, access equity, or consolidate debt.

Our experienced mortgage brokers will guide you through the available options and assist you in finding the best home loan solution for your circumstances.

Refinancing your home loan involves comparing  your existing home or investment loan with what is available in the wider market and if it makes financial sense it is swapped out with a new mortgage agreement typically with a new lender.. This process allows you to take advantage of better interest rates, more favourable loan terms, or access equity in your property to spend on almost anything you like. At Axton Finance, we understand that your financial situation and needs can change over time, and refinancing offers an opportunity to optimise your home loan. Here are some ways refinancing may benefit you:

• Lower Interest Rates: If market conditions have shifted or your lending capacity and credit score is good, refinancing can lead to lower interest rates and cheaper monthly repayments. You can use the monthly savings and plough them back into the loan to help speed up your debt reduction plans or use the savings for any other of life’s demands.
• Accessing Equity: If your property has increased in value or you’ve made significant repayments, you may have built up equity. Equity is simply the difference between the value of your property and the amount owing on it. Refinancing allows you to access this equity, which you can use for home improvements, investments, consolidating debts, or other personal or financial needs.
• Consolidating Debts: If you have other debts with higher-interest rates, such as credit cards, car loans or personal loans, refinancing can be an effective way to consolidate these debts into your home loan. By doing so, you’ll have a single, more manageable repayment at a potentially lower interest rate but this needs to be applied with caution as you don’t want these typically shorter loan terms being paid over a much longer loan term associated with a normal home or investment loan
• Changing Loan Features: Refinancing enables you to switch to a loan product with features that better suit your current circumstances. For example, you may want to move from a variable rate to a fixed rate, or vice versa, or set up an offset home loan which is a linked savings account that does not pay interest but the balance instead ‘offsets’ the balance of the mortgage loan which in turn can be an effective structure to pay off your home loan sooner.
• Debt Repayment Strategies: Our mortgage brokers can work with you to develop a personalised debt repayment strategy, which may involve refinancing at strategic intervals to optimise your financial outcomes.

Before proceeding with refinancing, it’s essential to consider potential costs, such as exit fees from your current lender, application fees, legal fees and whether any other short term offers exist such as honeymoon interest rate periods or cashback offers from a shortlisted lender. Our experienced team at Axton Finance will conduct a comprehensive assessment of your financial situation using industry leading tools, guide you through the process, and help you determine if refinancing is the right choice for you.

Many people table the idea of using bridging finance  but few really understand how its operates or what it effectively achieves. At its simplest it enables a home buyer to purchase a new property before the sale of their existing home. More often than not it is owner occupiers rather than investors who will use this product.

The finance structure basically enables you to borrow up to the full purchase price of the new property plus all stamp duties and closing costs like stamp duity, legals. Generally the lender will give you between six and twelve months to sell your current property and release its equity to enable the current loan to be closed out and use any surplus money left over to reduce the bridging loan on the new property plus any interest fees and charges. Generally the interest on the bridging loan is capitalising (interest is added to the loan). Your responsibility is to only meet the repayments on the existing loan during the bridging time frame. A few important things to consider;

• You generally need a fairly good amount of equity in your current property to consider the use of bridging finance especially if you new purchase property is likely to be more expensive than your selling property
• Some lenders require servicing evidence (afforrdability testing) on the end debt position after your current home is sold but other lenders require your servicing evidence to be on the peak debt amount which makes it difficult to secure support with such lenders
• Interest rates on bridging finance are generally not discounted and are higher for the term you might have bridging for
• The bridging finance interest calculation only starts when the target purchase property settles so if you can negotiate a long enough settlement you might be able to secure a quick sale on your current property which maye minimise or completely eliminate the time frame you need to be exposed to a bridging loan structure

As you can see there are quite a few variables to bridging finance and not all lenders and policies are created the same so get in contact with us here.

Quite simply you need to be sure that that a refinance is going to save you a meaningful amount of money after any potential refinancing costs.

Fortunately we can calculate accurate savings you may be eligible for by comparing hundreds of lending products from over 30 lenders to tailor a lending solution that matches your needs and not just the lender involved.

In a rising rate market more than ever is it important to keep a regular eye on your current interes rate to ensure that it is remaining competitive. You can bet your bottom dollar that your current lender is unlikely going to tell  you that there might be a  heaper rate out there that may be more suitable and thats where our difference comes into play.

As a client of AXTON our systems ensure annual reviews of your structure that ensure your loan remains competitive and we work in the back ground to ensure we needle your current lender to ensure that your interest rate remains as compeitvie as possible.

Refinancing your home or investment loan is usually not that expensive but you need to be aware of a few things. As a rule of thumb a simple refinance will not cost more that $500-$750 but the upside could be many thousands in saved interest and could slash years off your existing loan.

In recent times many lenders have also been offering cashback rebates on your home loan if you refinance to them which can be several thousand dollars but like with most things there are often catches. The good news is that we can help you evaluate this possible benefits and compare apples with apples.

Basic refinance costs are discharge fees payable to your current lender usually about $300 per mortgage, lender legal fees may or may not be included in this cost but are usually less than $250. Government discharge and mortgage registration fees are payable and differ from state to state but again are less than a few hundred dollars per mortgage security (property). 

One important consideration is if there are break fees payable to paying out a fixed loan early. However generally speaking if your current fixed rate is cheaper than the preailing rates your lender will let you out without charge. If you need to break a fixed loan and the fixed rates have fallen below current fixed rates the you may be up for a pretty expensive cost in many cases. Each lender uses a different calculation and its usually easy to get a quote just by ringining your current provider.