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Refinance your home loan!

Why would you consider this? There are a few good reasons to start looking around for help.

For example, to consolidate minor debts, make renovations to improve the home, put in a pool, cash out for an investment, but ultimately it is to save money.

Paying off a mortgage with a higher than average interest rate does not do you any favours.

You won't pay off your home earlier, the bank keeps the interest difference ( for profit) and you are throwing hard earned money away. In these current times, no one I know ( that is not insane) wants to do that.

You want to find the lowest possible repayment that you can qualify for. Most lenders show you a rate that looks good. This is the "Advertised rate", then in many cases, additional fees and charges which bring up the true cost of the loan repayments. This is called the "Comparison rate". This can be difference of a fraction of a percent, or more often much larger, from 1% upward! When this is presented in dollars on repayment schedule, it can mean several hundred dollars to even a thousand a month.

Banks are very reluctant to offer or even notify their existing clients of an opportunity to refinance to a much lower rate if it happens. If you have a variable rate loan with them, you may get a slightly lower than original repayment rate, but it is not often as good as what is out there.

I can personally vouch for a client conversation who went into their bank branch requesting for a review and was told it was "fine to leave it as it is". Fine for who? The bank, that's who. An interest rate nearly 2% higher than if they were a new client. I assume this is how they treat loyal customers for good conduct and behaviour. So don't assume the bank will really go out of their way to help you save money.

How to fix this and start saving? Reaching out to myself as refinance home loan specialist with satisfied customers who vouch for the fact I have saved them thousands of dollars and improved their lives. I source and research from a large panel of lenders willing to earn your business. We build a loan around your specific needs and requirements and put it together for a real savings for you. I am confident I can help you.

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