The benefits of a mortgage refinance include:
- Easier to manage payment
- Lower interest rate
- One payment instead of many
Credit Repair Australia can assist you to refinance your property and negotiate the terms to pay out your creditors at the same time.
The main benefit of a mortgage refinance to pay out debt is that the payments are spread over a longer period of time, making them easier to manage.
In order for a mortgage refinance to be successful you will need an appropriate amount of equity in your property (the value of your property minus the amount that you owe). However we can help you determine if you have enough equity after conducting a free financial analysis.
We may also combine your Mortgage Refinance with a debt settlement if you do not have enough equity in your property to pay out the full amount of the debt.
It’s important you get the right advice
There are some things you should take into account when considering to refinance to pay out your debts. For example the actual interest rate may be lower, however the amount of money you pay in interest over the life of the loan could be more, as the home loan will more than likely be over a longer period.
You also need to be aware that you are turning your unsecured debt into secured debt and if something goes wrong your home could be at risk of being repossessed. It’s therefore important that you get the right advice.
To find out if a Mortgage Refinance may be suitable for you call us on1300 298 834 or get in touch on our contact page.
Still have questions?
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