When it comes to owning property, it’s important to keep an eye on what you’re paying on your home loan. In some cases, you could find a better deal by refinancing.
Refinancing is about replacing an existing or outdated loan with one which offers better terms.
- Source: RFi Group, September 2016, Do you know the interest rate that you’re currently paying on your most recent loan? Base: Mortgage holders (n): 2,011.
- Source: RBA Cash Rate
- Source: Roy Morgan, Single Source survey of 50,000+ people pa, September 26 2016.
- Source: Australian Bureau of Statistics, July 2013. Base: Australian households that own their own home, with or without a mortgage, based on the 2011 Census.
- Source: ASIC’s MoneySmart, August 2015.
The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. To the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accepts no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.
Originally published as A beginner’s guide to refinancing on realestate.com.au.