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Some lenders, comparison websites and online calculators will overstate the cost-saving benefits of refinancing to get you through the door. At Axton, we believe in building honest, long-lasting relationships—not one-off transactions. Together, we’ll determine if refinancing your home loan really is the way to go and provide a detailed summary of costs and savings.
With thousands of refinancing options available, you might be wondering: where do I begin? Before evaluating what our lender panel has on offer, we’ll talk through your current situation and arrange a free bank valuation if required. Following this, we chat to your lender, giving them the chance to sweeten the deal by sharpening your interest rate before recommending you refinance your home loan.
With a mortgage refinance, you can secure lower interest rates, shortened terms, switch from variable to fixed rates (and vice versa), tap into home equity, and consolidate debt. Spare yourself clunky maths calculations and leave the number crunching to our mortgage experts.
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Are you paying a high interest rate on your home loan? You can bring your monthly payments down by refinancing your first mortgage by negotiating a better deal with a lower interest rate. Axton Finance can help do all of the heavy lifting for you.
On most occasions you will be required to have equity in your property before you are able to successfully complete this process. The general rule of thumb is 20 percent equity which is the yardstick that most banks and lenders will use. However, if you have a strong credit record and rating then it can be possible to do this without equity.
The first step is to have a clean record when it comes to your payments and all of your other credit and debt payments and arrangements. Lenders are only going to consider this if you have a good credit rating so ensure all of your payments are up to date - preferably ahead. There are options available including taking up insurance, however this will make your repayments larger.
The best way to carry this process out without equity is to let a reputable mortgage broker like Axton Finance take care of this for you. We are well connected with over 25 banks and lenders and can seek out the best deal for you through our network and strong negotiation skills.
There are specialist lenders that will provide assistance towards this solution when your credit score is poor, but these options are limited and the rates may not be as favourable as you would hope. Let our team assist you in improving your credit score with a dedicated plan to take control and build up your rating so that you are more favourable in the eyes of lenders.
There is no limit to the amount of times you can carry this out, but it will always be dependent on your equity and your credit rating. We can advise you on the best times to take the next step, like when interest rates are lower, allowing you to get a better deal.