Refinance is when you move your mortgage from one Bank to another Bank. This may be because you are able to obtain a better offer from another Bank such as lower interest rates or better terms and conditions, or you simply do not like the Bank that you are with.
The best time to refinance will depend on each different circumstance but in general the best time to refinance is when your loans are floating and not fixed. Fixed loans can be refinanced with another Bank however these are likely to incur break fees and you should check with your current Bank regarding what these will be before you decide to break your loans.
At Cochrane Law we are here to help you make the right decisions regarding whether you should refinance or not. We can point you towards the right Banking Consultant or Mortgage Broker to help structure your finance. We also complete the legal requirements by discharging your old mortgage and registering a new mortgage in favour of your new Bank.
At Cochrane Law we provide an all inclusive fee so there are no little surprises along the way.
If you have any questions or would like to know our fees, please contact us and we will be happy to advise.
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