Thinking About Refinancing?

If you want to know whether refinancing is the best choice for you, talk to one of the finance experts at Platinum Mortgages. We offer impartial free advice and look at all alternatives and options. This includes looking at banks, non banks, finance companies and private funds. Our mortgage brokers will identify the best mortgage lenders for your home loan. We will find the most beneficial option for you, and manage the process for you. We do the hard work, and you have more time with less stress to focus on more pleasurable things.

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What is refinancing a mortgage?

When you take out a new loan and pay off your existing mortgage.  Alternatively, when you take your home loan away from one bank and obtain a loan from another bank.  The original loan is paid off and you have a new loan with another bank.  This is also known as switching.  When you do, you do need to meet the criteria as you did for your initial home loan application.

Why refinance your mortgage?

This may be a wise decision for you when your circumstances change, or when there are new or better suited product options on the market:

These circumstances include:

  • Your current mortgage rate is about to expire.  Interest rates are increasing at the moment so its even more important to involve an expert.   Refinancing your existing mortgage can help secure the best interest rate available.  The first offer may not be the best offer.
  • Naturally you would take advantage of low interest rates when the rates are dropping, but we may not see this happening for a while.  Again, even in this scenario, you would be encouraged to first discuss this with the experts.
  • You want to consolidate debt.  Some short-term loans may be at a much higher interest rate than the mortgage rate.  Consolidating these may overall, save you interest and therefore money.
  • Needing to leverage your current equity to get a deposit for an income property or to fund other investment opportunities.
  • Leveraging your equity for personal goals, such as a wedding or home renovations.
  • Buying out a partner due to a split in relationship.
  • Wanting to change your mortgage type and switch between floating loans and fixed loans or a complete restructure.
  • New products or offerings which are better suited to your situation and finances.

Whatever the motivation to change or move your loan, you are encouraged to first discuss this with our advisers because it may not always be the best option for you to refinance your existing mortgage.

When is a good time to remortgage?

There are many good reasons to refinance your home loan, but there are also good reasons not to.  It depends on your circumstances.  Contact us now by phoning us at 0800 LENDING (0800 536 346) to check if this is the right move for you.

Scrabble blocks spelling Refinance

Get expert mortgage refinance advice

Refinancing could be a good move, but careful consideration is required, because:

  • You could end up accumulating even more debt, so let us make sure for you.
  • Refinancing to leverage your equity for non investment reasons needs to be considered carefully as doing so has a long term impact.

Platinum Mortgages will you give you advice specific to your situation, ensuring you understand the best options available to you.  We provide solutions no matter your situation – even if you have IRD debts or tax arrears, multiple debts, a bad credit history or if you’re facing a mortgagee sale. We will help you with both the plan, the process and the journey.

Our easy step-by-step guide making a refinance easy for you:

  1.  Platinum Mortgage will run a comprehensive appraisal.  We look at both the short and long term implications, and advise you whether switching your loan is in your best interest.
  2. We will identify the best way to refinance your mortgage if this is the best option for you.  We find and compare all possible options so you get the best solution.
  3. Once you have chosen your lender, we manage the entire process for you.

All applications can be done online, in person,  via phone or email.  Reach out to Platinum Mortgages today and our financial advisers will get your mortgage sorted the easy way.

Start your Application Here.