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Mortgage
Refinance Mortgage
Refinance is the process of refinancing your current home or investment loan
with a new lender. This is usually done in order to :
Obtain Better Mortgage
terms (such as a lower interest rate, available redraws, mortgage
portability, ongoing fees and charges); Access Additional
Equity out of your home, or for Debt Consolidation.
Before deciding to refinance
your home you need to consider the following :
Penalties imposed by
your current lender for early repayment of your loan; Other fees and charges
involved; Your Long and Short
Term financial plans; Your credit history; Your employment status
Please Remember that :
A lower interest rate
is not necessarily best; Sometimes Interest Only
is better than Principal and Interest; Consolidating your
unsecured high interest debt into your mortgage can save you an absolute
fortune.
Ultimately, whatever your
reason for refinancing, it's important to have a clear objective in mind. It
is important to explore all the options and make an informed decision as to
which form of refinancing is right for your individual needs and overall
financial situation.
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