Mortage refinance
Do you believe interest rates will rise? Or are you floundering in a sea of debt unable to get to the surface? If either of these apply to you, perhaps you should seriously consider refinancing your present mortgage at a lower interest rate.
In essence, mortgage refinance means obtaining a new loan on your property to:
• Lock-in a fixed rate of interest for a set period of time, or
• Pay out your current mortgage and other debts you may have. Credit cards, in particular, carry a hefty rate of interest which can be substantially reduced.
The benefits of mortgage refinancing may also include:
• paying off your mortgage faster
• extending the length of your mortgage thereby reducing monthly payments
• obtaining a lower interest rate or more favourable terms
With the possibility of further interest rate rises, homeowners should assess whether these may hamper their repayments and lifestyle. Fixing part - or an entire - home loan is well worth considering.
Naritas mortgage specialists often achieve savings of 0.5%, or more, on existing mortgages.