Considering refinancing or loan consolidation? K Partners provides credit assistance to help clients explore refinancing options, subject to individual circumstances and lender criteria.
At K Partners, we can assist with a home loan review and in fact we pride ourselves on reviewing our clients loans every 6-12 months without you getting involved!
At K Partners, we can assist with a home loan review and in fact we pride ourselves on reviewing our clients loans every 6-12 months without you getting involved!
We think it’s important to touch base with you every 12 months to discuss your options whether it’s paying off your loan sooner or refinancing to a more competitive rate.
Refinance is moving from one type of loan to another with a different rate or terms, either with your current lender or a new one to secure sharper interest rates, with more favourable terms.
When you refinance your home loan, there will be some refinance costs, which can range from $500 to $2,000. These costs can be added to your new loan with the new lender. The fees include:
– Application/Establishment Fee: The fee to process your refinancing application.
– Valuation Fee: The cost of having your property valued.
– Discharge Fee: The fee for paying off your old loan.
Yes, the cost can vary depending on the remaining term of your home loan and loan balance, ranging from a few thousand to tens of thousands. It’s important to consult with your broker or financial advisor before making any early repayments or changes to your loan.
In some cases lenders will assist with a cash back incentive to assist with the transfer fees.
First we need to identify your loan amount which will determine your monthly repayments
The final rate the bank will offer you will be determined by the purpose of the loan and the loan amount. It will also be based on the type of loan i.e. home loan, investment loan, or if the repayments are interest only or principal and interest.