REFINANCING
Could refinancing
work for you?
Review your rate, repayments and loan features with Sam. Weigh potential alternatives against switching costs and your remaining loan term.
Helping clients Australia-wide. Through BMoney, Sam compares refinancing options from a wide panel of banks and non-bank lenders, including the costs and trade-offs of switching.
Finance solutions providedthrough BMoney Group.
A next step to take.
A FRESH LOOK
A lower rate is only part of the picture.
Perhaps your repayments feel different, your fixed period is approaching its end, or the features you use have changed. Tell Sam what prompted the review so the conversation starts with your goals, rather than a rate in isolation.
Compare like for like
Compare repayments over the same remaining term, alongside ongoing fees, useful features and switching costs. A longer new term may lower repayments but increase the interest paid overall. Include any fixed-rate break costs and ask how long a potential saving would take to cover the cost of switching.
A review can also include asking your current lender to reconsider your rate. Staying with your lender may suit you better than switching; a lower rate alone is not a promise of savings.
Read ASIC Moneysmart’s guide to switching home loans.
What Sam can help you work through
- Discuss what is and isn't working with your current loan.
- Ask about switching costs, loan features and the remaining term.
- Work through the information needed to assess your circumstances and possible next steps.
YOUR QUESTIONS
Before we talk.
Does reviewing my loan mean I have to switch?
No. A review starts a conversation. You can discuss the information and next steps before deciding whether to proceed.
Should I focus only on the interest rate?
No. Compare potential savings with fees, switching costs and the remaining loan term. Lower repayments can come from extending the term, which may mean paying more interest overall.
Can I enquire while my loan is fixed?
Yes. Tell Sam when the fixed period ends and ask what costs or conditions would need to be checked before making a change.
What is useful to know before a loan review?
Have a rough idea of your current loan balance, rate, repayments, remaining term and what you want to improve. For example, you may want to review the costs or whether the features still suit you. Do not include account numbers or statements in this enquiry.
How can I tell whether switching is worthwhile?
Compare the costs of leaving your current loan and setting up the new one with any potential benefit over the period you expect to keep it. Ask how long it would take to recover the switching costs. A review may show that staying put is a reasonable option.
LET’S TALK
What would you like to change?
Share your plans and the best way to reach you.
Sam can discuss your needs and explain the next steps. This is an enquiry, not a loan application.