The three wise benefits of refinancing

Don’t spend another year shedding tears, and dollars, because you didn’t refinance your mortgage. Let uno do some huffing and puffing as we trim down your mortgage, pop it down your chimney and under your tree in time for Christmas morning.
Cath Fowler
Last Christmas, I forgot to refinanceSo the very next day, I still had to pay This year, to save me from tears I’ll refinance with someone special…

It’s a bit cringey, isn’t it? But while I’m clearly no George Michael in the song writing department, I do know a thing or three about refinancing mortgages.

Don’t spend another year shedding tears, and dollars, because you didn’t refinance your mortgage. Let uno do some huffing and puffing as we trim down your mortgage, pop it down your chimney and under your tree in time for Christmas morning.

Trimming the fat from your mortgage

As Australia’s only Active Home Loan Manager, the uno team spend our time watching:

  • interest rate movements
  • shifting property prices
  • your personal circumstances, such as pay increases

Why?

To make sure you’re always getting a good deal on your mortgage. We want you to pay less interest, over less time and put that money towards: your home, your family, your lifestyle.

The banks don’t need your money. You do.

The three wise benefits of refinancing

I love Christmas but the kids are getting older and want different things. More expensive things. I’d love a holiday soon too. Very soon if I’m 100% honest. I also don’t want to dip into my savings.

What to do?

You got it. Refinance my mortgage.

Let’s look at three wise ways I can use my refinanced mortgage funds.

1. Take a holiday. Or do some home reno’s

Okay yes, I would really love a holiday. But, while sunning myself in Fiji seems like bliss right now, I’d also love to redo the bathrooms and fix up the pergola. Not like The Block either. I want to pay someone to come and do it for me.

Wait.

I could have someone do the renovations while I’m sunning myself in Fiji!

Now that’s a very nice Christmas present to myself.

uno customer Chris did just that. Read how he refinanced to pay for renovation.

2. Get a low-ho-hower rate

The best, and most fun, thing about refinancing at the moment is getting a lower interest rate. Lower rates mean more money in my pocket.

That’s a few more fancy meals in Fiji or the really fancy tapware for my new bathrooms.

The good thing about uno is they work with 30 lenders – including the Big 4 – so have access to a huge range of competitive rates from which to broker loans.

One of uno’s customers saved $32,376 in a single year after refinancing with uno, switching from an interest rate of 6.24% with Resimac, to a 3.65% interest rate with CUA. They consolidated a bunch of loans and credit cards in the process.

3. Pay off my mortgage faster

Curious about how many $$$ you can save by paying off your mortgage faster? Check out our nifty mortgage calculator and think of the possibilities of being mortgage free. With a tweak here and a twiddle there, you could be saving thousands of dollars over the lifetime of your loan.

uno customers Lee and Danny reduced their loan life from 20 years to 14 by refinancing with uno. By switching lenders they were able to get a better interest rate, consolidate debt and save $42,000 in the first five years. They shared their story here.

As Australia’s only Active Home Loan Manager, uno can:

  1. Help you get the right home loan (and most competitive rate) for your situation
  2. Analyse your loan and let you know whether it’s still the best rate available to you (even if you didn’t get it through us) using our unique loanScore technology, then continue to monitor your home loan/s daily to keep you on a good deal for the life of your loan.
  3. Help you renegotiate with your current bank or lender, if your current loan is no good and interest rate could be lowered
  4. Help you switch banks, if your current bank or lender won’t come to the party

Find your savings

Photo by Caley Dimmock on Unsplash

Cath Fowler
* Three year fixed rate, owner occupier, P&I loan with a maximum LVR of 95% and a loan amount >$150,000. Lender rates and products may change. We cannot suggest you remain in or switch to any loan until we complete our assessment. Fees and charges apply. ^ WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rate is calculated on the basis of a loan of $150,000 over a term of 25 years. ± All loan applications are subject to uno assessment and lender approval. uno does not guarantee that it will be able to find a customer a better loan than the one they currently have or to save them money.