Refinance your property loan
Keep your hard-earned money working for you.
Our professional mortgage brokers conduct complementary mortgage reviews.
What is a mortgage review?
A property mortgage is a long term loan that taken out over 20-30 years. A lot of changes happen during this time. A mortgage review is a method to determine if you are still on the best product for your current situation.
At Royal Oak Finance our professional mortgage brokers offer complimentary reviews to analyse your current mortgage to examine if there are any cost-savings to be made. There are a number of techniques that are used to reduce your interest payments and use this to add additional principal payments which will have your mortgage paid off sooner. Your mortgage is compared to other products within the marketplace to determine if you are still on the best product for your situation.
What is refinance?
The refinance is the action step. A refinance may involve a range of options depending on your situation. You may wish to change your mortgage to another lender because of the benefits you will receive.
Maybe you want to review your home loan to determine if you are still on the best product or you may wish to refinance because you want to cash out using your equity in your home, to purchase an investment property. Or maybe you want to renovate, whatever your reason our team takes care of you, we have a holistic approach, we listen, we understand your objectives and will help you achieve your goals.
Remember if you just want to review your current home loan you would only switch if it was beneficial to do so. A review of your home loan can help you decide if refinancing is worthwhile. Get in touch and we can discuss your situation.
Frequently Asked Questions
First, understand what you want from the review. Your reason why, your goals and objectives. It’s okay to conduct a mortgage review to understand more about your mortgage and use the information to set some future goals. Here are some common refinance reasons.
- Use equity to purchase an investment property/Leverage your property
- Renovate your home
- Better interest rate (what is your current interest rate)
- Fewer fees
- Understand additional ways to save on your mortgage
It’s a complimentary service we as provide to you. If we believe the product you are on is the best for you we will advise you of this (if there are any tweaks you can do to improve your situation we will provide the recommendation and advice then it’s up to you to contact your lender to make these changes).
If there is a better product and you choose to switch, we will assist you with this process. We complete the applications and gather the documentation and submit it on your behalf. For this, we get paid via the lender. All which we disclose to you prior to you making the decision to proceed.
Equity is a common term for us in the finance world. In a nutshell, equity is the difference between the value of the property and what you owe (your mortgage). For example, if you have a property valued at $800,000 and your mortgage on the property is $500,000 then you have $300,000 worth of equity.