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Let Savvy help you with your home loan refinance by comparing offers so you can find the lowest interest rate and most suitable loan available.
There’s never been a better time to refinance your home loan, with many online lenders currently making the home loan market highly competitive. Whatever your reason for wanting to switch to another loan, there’s plenty of opportunities to save, both on fees and interest payments.
Savvy is partnered with a range of lenders who are keen to take on your business. Whether you’re wanting to switch to take advantage of lower interest rates, change the type of loan you have or even finance renovations or consolidate other debts, we’ll help you find and compare lenders offering mortgage refinances which fit your criteria.
Want the lowest interest rate and extra features? You can compare a range of different home loans with Savvy, so you can start your search right here.
No-fee and low-fee home loans are now available, so you can reduce the charges you pay on your loan and potentially save thousands over the years.
If you already have equity in your home, you may be able to use it as security in place of a cash deposit to refinance your loan.
With such a wide range of loans to choose from, you can choose a loan with all the features you need to save on interest over the life of your loan
We make it simple to refinance with comparison information and loan application links all in one location. Rapid loan processing means you get your outcome fast.
Forget hours spent hunting around for the best home loan information. We do the hard work for you and put loan comparison info at your fingertips.
You’ve come to the trusted experts in online home loan comparisons. After more than a decade of comparing deals, we know what makes a good loan.
It doesn’t matter whether you want to buy an investment property or just want a lower interest rate; we can help you find the right loan for your individual needs.
If it’s been a few years since you last looked at your home loan, you might be shocked at how much interest rates have changed. Refinancing to take advantage of lower interest rates can save you thousands.
For example, on a $500,000 principal and interest (P&I) loan taken over 30 years paid monthly, the difference between sticking with a 3.5% p.a. rate and refinancing to a 2.9% p.a. rate after three years is just under $100,000 in interest alone.
When you first took out your home loan you may have been struggling as a new homeowner. However, you may now realise the honeymoon rate you signed onto has reverted to a more expensive interest rate, or you might want to pay off your loan more quickly.
Don’t be afraid to look around and change the type of loan you have (for instance, a variable or fixed interest rate) to find one that better suits your needs right now so you can pay off your loan sooner and reduce interest payments.
You can refinance to increase or decrease the term of your loan. Reducing your loan term by opting for a 25-year term instead of 30 can save you thousands in interest. For example, refinancing your $350,000, 30-year loan at 2.5% after three years to cut five years off your term would save you just under $50,000 in interest.
Contrastingly, you could refinance the same loan back up to 30 years after three years of repayments to shave $100 off your monthly instalments.
There comes a time when your 1980’s kitchen just doesn’t work for you anymore, or you need another garage for the new wheels. Refinancing to pay for home renovations or improvements can be a very cost-effective way of borrowing money and improving the sale value of your home at the same it.
With low interest rates and a variety of lenders offering a range of top-up loans and loans requiring 0% deposits (using the equity you already have in your home as security), there’s never been a better time to compare home loan refinance offers.
Sometimes life can throw a curveball and all those small debts you’ve taken on over the years to help you through tough times can become a heavy weight on your shoulders. Why not sweep them all away in one go and pay off all your credit cards with one simple home loan refinance to consolidate all your debt?
If you’ve built up some equity in your home (helped by rising house prices), you may find you have sufficient equity to refinance to a slightly larger mortgage paying a very reasonable interest rate to encompass your high-interest debts.
Owning an investment property becomes possible if you’ve built up equity in your home and owe less than 80% of its value, in which case it’s possible to buy an investment property using your equity as security. With an interest-only investment home loan, repayments may be low and will possibly be more than covered by the rental income you’ll enjoy. There may be considerable tax offset advantages too, which could mean you pay less tax overall as well as having a useful second income.
Always seek financial advice before making major investment decisions.
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