Refixing or Restructuring Your Home Loan?
When your home loan is up for renewal, it’s the perfect time to ensure you’re still getting the best possible deal. We can help you navigate this process and secure a great rate.
What's the Difference?
- Refixing: This is the process of simply re-agreeing on the interest rate for your existing loan with your current lender. It’s the most common option when a fixed term expires.
- Restructuring: This involves making more significant changes to your loan. You might want to switch from a fixed to a floating rate, split your loan into multiple parts, or change the loan term. This allows you to tailor your mortgage to better suit your current financial situation and goals.
We'll Negotiate the Best Rate for You
Every week, we negotiate millions of dollars in mortgages for our clients. This gives us real-time data on the most competitive rates available, which we leverage to negotiate with your bank on your behalf. Our goal is to get you the best deal possible, saving you time and money.
The best part? This service is completely free for you.
Whether you’re an existing client or new to us, we’re here to help. If you want to get the best rate from your bank and need a hand, simply fill out the form below. One of our expert advisers will be in touch with you shortly.
Pros and Cons
Pros
Potential Savings: Securing a better interest rate can save you thousands of dollars over the life of your loan.
Flexibility: Restructuring your loan allows you to adjust it to better suit your current lifestyle and financial goals.
Debt Consolidation: You may be able to incorporate other debts into your home loan to simplify your finances and lower your overall interest payments.
No Cost: In most cases, our negotiation services for refixing are completely free, making it a risk-free way to save money.
Cons
Break Fees: If you try to refix or restructure before your current term expires, you may face significant break fees from your bank.
Complexity: Without expert advice, it can be difficult to know which loan structure or rate is truly the best option for your unique situation.
Impact on Credit: Frequent changes to your loan can sometimes be noted on your credit report, though this is less of a concern with refixing than with refinancing.
Not Always a Better Deal: While we always strive to get you a better deal, sometimes market conditions mean that the best option is to stay with your current setup.
Contact us for a quick, no-obligation chat to see how much you could save.