You should review you mortgage regularly to ensure that it continues to meet your needs.
It is important that when you review your mortgage you just don’t assess the rate of the product and compare it to what your friends have got. Your loan may have a particular feature which meets your individual needs as opposed to getting what is popular at the time.
We work with you to review the features of your existing loan and compare it to what is currently available. If we can find a product that will not disadvantage you then we will recommend it… as long as there is a need. Refinancing just for the sake of it is an expensive exercise. Sure you may not pay directly our of your pocket, but when you add a fee here and a fee there and throw them onto your loan, you’ll find you pay unnecessary interest overall.
Further if you’ve had your loan for a period of time, there is no point starting it all over again unless cashflow is a genuine concern. Any lender will extend your loan as required, after all they’ll get the benefit of the extra interest. Solid advice is required to ensure you are not left paying for extras you don’t need to.
Refinancing is available for all scenarios including:
• Better rate
• Need to access equity.
• Mortgage stress
• Debt consolidation
Greenspan’s financial professionals know the in’s and out’s of most mortgage products and can advise on the best course of action for your particular situation. Get the right advice now.
For further information, contact us.