Refinance Mortgage To Free Up Cash Flow
Lower interest rates give us a great opportunity to find a better home loan mortgage. The competition among the lenders will intensify over the next six months, as they all look to lock in customers for the next two to five years. The lenders are worried that property prices may decrease if the world economy slips back into recession and want to sure up the quality of their loan books. This is bad news for first home buyers trying to go it alone, but great news for home owners looking at mortgage refinance options and those first home buyers with parents that can go guarantor or supply a gift for a deposit.
Refinance Mortgage Deals
I predict that their will be some good deals to be done for those with equity. Look for an offer that gives you a zero application fee and access to the lowest rate, a 100% offset account and a low annual fee. Pay attention to the advertised CCR rate to check for hidden fees. If the rates get a further chop on Melbourne Cup Day, there may well be some very good three and five year fixed rates on offer as well as very skinny variable rates for those with good lending potential.
Check Your Current Loan For Errors Before You Refinance Mortgage
Using software to check for mistakes on your mortgage statements is not a new idea, but it is a good one. The facts are that lenders make errors, and if you have a big loan, the errors can be very big, usually several times the amount you will pay for your software. Even if you don’t find a fee or interest error, you at least will have some peace of mind knowing you have not been cheated. Refinance for the right reasons, and check your statements.