Recapture That Home Loan Spark
When you buy a house you enter into a long term relationship - with your home loan.
Like any relationship, making it a success will depend on compromise, hard work and regular attention.
Luckily, home loans aren’t picky - you don’t need to take them out to a fancy restaurant once a month, you just need to make your repayments on time.
As time passes however, it is important that you don’t start taking your loan for granted. As in any relationship, you need to put the time in and work on your issues as they arise.
If one day you realise that your home loan no longer matches your needs, instead of despairing and starting to resent it, you may want to consider the benefits of home loan counselling - also called refinancing.
People change, and home loans can too. A change might do you both good. You might benefit from some extra features that refinancing can provide you or from a different repayment schedule.
It is important to consider the costs and savings when refinancing your loan and a repayment calculator is a good place to start.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.