Your loan repayments will typically be your largest regular payments made, so it makes sense to regularly review these every 2 to 3 years, to be competitive in the market. Complacency here can cost you tens of thousands of dollars – instead of paying extra interest, you can be paying off your loan, years earlier.
Lenders have a habit of slowly increasing your interest rate, so it makes sense to regularly review what is available in the marketplace.
There are several reasons why you may want to refinance your loan, shown below:
If you would like to discuss your situation with a lending professional and get pointers as to what is important and what is not, book a Free 20-Minute Information Call.