According to the Australian Bureau of Statistics, the value of external refinancing in May 2023 in seasonally adjusted terms rose 8.1% to $21.0b and was 22.4% higher compared to a year ago.
Indeed, the series of cash rate hikes by the Reserve Bank of Australia (RBA) has left many homeowners reviewing their home loans, interest rates and loan features.
But with hundreds of different products on the market, deciding which home loan is right for you can be overwhelming. That’s where Fornaro can step in and guide you through the process.
As mortgage & finance brokers, we can play a crucial role in providing you with choices tailored to your needs and goals.
Here’s how Fornaro can assist you:
The mortgage industry has changed significantly. Interest rates have gone up. Banks have tightened their lending standards. It’s a whole new world for borrowers.
Never before has it been so crucial to have a professional broker on your side. Someone who is knowledgeable about the industry and understands which products suit your specific financial situation and goals.
There’s no one-size-fits-all mortgage. Everyone’s financial situation and goals are different, which is why you need tailored finance solutions.
We will go through your unique financial requirements and search for a loan that’s appropriate for your specific needs.
We compare a wide range of lenders and products to find the right one for you. We might also be aware of home loan offers or lenders that are not mainstream or well-known, opening up other opportunities.
We also do all the legwork for you, which saves you the time and stress of doing your own research.
Lenders pay mortgage brokers for their business, so there’s usually no cost to you.
What’s more, the commissions we receive are similar across lenders. This ensures there’s no incentive for us to recommend one lender over another. Our job is to act with our clients’ best interests at heart.
If your life is as jam packed as ever, refinancing might seem all too hard right now and something that you will think about doing ‘soon’. But it’s worth the effort of engaging professionals Like Fornaro to manage the process.
We take the burden out of refinancing. We’ll run through your financial situation and requirements, and then explain your options.
If we do negotiate a more appropriate home loan for you, we’ll manage the process with the lender and facilitate the refinancing process on your behalf.
Here are some of the common reasons people choose to refinance:
If you’ve been avoiding looking at your home loan since interest rates started going up, it’s time to take control.
Speak to us and we’ll see if we can find you a better home loan that suits your specific needs.