The team at Conveyancing Lab understand the financial details and processes surrounding a property, and the impact it may have on your life. Refinancing your residential or commercial property requires careful planning, attention to detail and ongoing communication with all parties involved. We’ll help you achieve your desired outcome using our trusted and professional service.
There are many reasons why people choose to refinance their property and these include:
- Reduce debt through lower interest rates
- Obtaining additional loans for investment purposes
- Debt consolidating
- Changing repayment amounts
- Improving loan structure with additional payments or offset features
Things to Consider Before Refinancing
An early step towards refinancing your property is to research the home loan products from multiple banks. This will allow you to review the available rates and products on offer from these banks, including annual mortgage fees, honeymoon periods and exit fees. Some people may wish to engage with a financial planner or a mortgage broker to assist with this process.
Before refinancing, we recommend that you ask yourself the following questions:
- Am I financially stable, and will I remain this way for the life of the new loan?
- Is it possible to achieve a better rate with a new loan?
- Will I be selling the property in the near future?
- Am I aware of the fees and costs of my previous loan (including exit costs and lenders fees)?
- Are there any equity opportunities, and will I be taking advantage of this?
Even during the refinancing process, the need for a conveyancer may be required for a property that is also being transferred at the same time. For e.g., Husband on the title, and adding wife.
Our Guidance for a Simplified Process
Conveyancing Lab is all about ensuring you have access to the best refinancing options for your property. We will guide you through the entire transaction where you will receive the best advice, the best loan and a completely stress-free service. Our team will liaise with your lender to prepare the documents, all while keeping you in the loop throughout the entire process.