Getting stuck in a mortgage with a high interest rate while others are offering significantly lower rates is not a pleasant situation to be in. The good news is you can ‘beat the banks’ or your current lender through refinancing. Growealth is one of the leading mortgage brokers greater metro Sydney borrowers use to find and compare lower interest rates, across different lenders. Through refinancing, you can enjoy better interest rate and have lower monthly repayments by applying for a new loan.
When done right, refinancing can give you benefits that your current lender cannot give you. Just be wary of any exit costs associated with your existing mortgage. You need to make sure that after doing the calculations, you will end up with more savings through refinancing and not with a loss. Refinancing should help you access a lower rate, better loan features and to pay your mortgage off faster.