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Home loans are not a one-size-fits-all product. Yours should be tailored specifically to you and your needs – even as these change. If you’ve had the same loan for a couple years or more, there’s a good chance that it’s no longer suitable – a problem which could cost you thousands.

Refinancing with Advantage Finance can quickly solve the issue and save you money. But how do you know when to refinance, and why should you choose Advantage Finance?

When to refinance your home loan

Reviewing your home loan regularly with the help of a professional mortgage advisor is a great idea. But the following are signs that you should refinance your home loan now to save yourself the money and time in future:

  • Your lender’s interest rate is no longer competitive: This is often the case if market rates have been dropping of late, and in this situation refinancing could save you thousands or more in interest payments over the life of your loan.
  • Your financial situation has changed recently: perhaps you’ve gotten a pay rise, come into a windfall or you’re struggling to make repayments. Your loan must always fit your means, so it’s essential that you talk to a mortgage advisor straight away if your income or access to funds changes.
  • Other situations when refinancing your home loan could help include: wanting to consolidate and quickly pay off bad debt, or needing extra cash for a major expense such as renovations, or a child’s education.

If you’re not sure what’s right for you, talk to a mortgage advisor here at Advantage Finance for help going in the right direction.

What do you need to consider when refinancing your home loan?

When refinancing it’s essential that you approach the process with caution. First, you must make absolutely sure that refinancing is the right financial decision.

If your aim is to save money, make sure you know the true cost of refinancing. Look at the fees and charges of the new loan and not just the headline interest rate. Make sure you know the exact savings you’ll make by switching.

On the other hand, if you’re refinancing to unlock equity and cover a major expense, be absolutely sure that you can afford the larger repayments and that the extra funds are necessary.

Why choose Advantage Finance when refinancing your home loan?

We know that refinancing can be confusing, but we also know that it needn’t be. Here at Advantage Finance our team of specialist mortgage advisors talk to you through the entire process to make sure that we understand your needs and your unique situation – and that you know what’s happening every step of the way.

We’ll use our decades of collective experience, vast industry knowledge and a dedication to achieving great results to help make sure you get the what you need out of refinancing your home loan.

Our service is completely free and could save you thousands of dollars and hours of hassle. To find out what we can do for you get in touch with a local mortgage advisor at Advantage Finance.


At Advantage Finance (SA) we want you to have your finance your way.

We offer you many loan and finance packages on our website but we also have other loan types that may suit other circumstances.

If you aren’t sure of what you need or would rather talk to us about your circumstances, please call us on 08 8351 5444.

Non metro area, rural and interstate enquiries are welcomed – we have clients throughout the country – literally!


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