SERVICES
Refinancing
Refinance to a better rate
Or cash out to buy that caravan or boat?
Have you had a look at your repayments and thought “surely I can get a better rate?”. Or do you want to cash out some equity to upgrade the family car, go on holiday or buy a caravan?
Refinancing doesn’t have to be hard. Let Empowered Finance find a tailored solution to your needs. We love finding a solution for all our clients and help them save money. Let us do the negotiations and find you the best rates.
We’ll chat about your needs and what you want to achieve then present different options for your consideration. No pressure, no obligation, we want you to feel empowered by your choice!
What are some potential reasons to refinance?
There are lots of reasons people choose to refinance a loan, some of which are below.
Price
The primary reason most people refinance for is price. Whether that be a more competitive interest rate, fees or both
Cashout
Are you thinking of upgrading the car, renovating or purchasing a boat? Refinancing to include this 'cash out' may be a better financial option for you.
Lender Products
You've heard about offset accounts and now would like to have access to this feature, get in touch and we'll find the right fit.
Change Lender
You've seen a better online banking platform and now wish you had that! Or the annual fees are adding up? Lets see what your options are and what's important to you.
Thing to consider
Refinancing your loan can provide benefits, depending on your circumstances and purpose. Lets tailor your solution to get you the best deal.
- Consolidate debt
- Better rates/features
- Switching costs vs savings
- Cash out for renovations or other purchases
Ready to refinance?
Lets see what your options are today!
Frequently Asked Questions.
Usually to get a better interest rate and lower your monthly repayments. Other reasons my be to release a guarantor on your loan, to cash out equity for renovations or another purchase.
Yes. There will be a discharge fee from the current lender, government mortgage registrations fees, and depending on lender, there may be establishment fees.
These costs can generally be consolidated into the loan if desired.
Anytime. You should always be reviewing your options and walking with your feet if your current lender won’t look after you – whether that be in terms of interest rate, customer service, or maybe online banking technology.
No. Refinancing involves switching your home loan to a new lender. If you’re cashing out, this can be part of a refinance to a new lender also, but you’re essentially increasing the current loan amount to take out extra cash.
This varies greatly on the lender chosen and their turnaround times. Generally speaking, refinancing will take somewhere between 1-2 months.
