A lower interest rate is always worth considering, it can substantially reduce the overall cost of your mortgage and reduce the time to repay the debt. 

Refinancing your mortgage may also come with significant cashback contributions, with banks offering range of cash incentives for you to refinance.

However, your mortgage structure can have a material impact on your long-term financial position, and it’s often overlooked!

The way your mortgage is structured impacts your repayments, flexibility, long-term interest costs, even ongoing access to equity, and the ability to better achieve your future financial goals.  It can often provide benefits that extend well beyond a small difference in interest rates.

Rather than focusing solely on rates and cashback, we look at the overall structure of your mortgage and whether its the right fit for your circumstances.

Interest rates are changing, and cashback incentives are on offer, opportunities are worth exploring!

People choose to refinance for a range of reasons, including:

• More competitive interest rates

• Accessing available cashback offers

• Reviewing repayments

• Introducing an offset or revolving credit facility

• Consolidating other debts

• Accessing equity for renovations or investment purposes

• Reviewing lending following changes in income, family circumstances, or future plans

The right reason will be different for everyone. The key is ensuring the benefits outweigh any costs involved in making the change.

As part of a refinance review, we assess:

•  Your current interest rates and repayments
•  Available cashback offers and lender incentives
•  Break costs and refinancing expenses (if any)
•  Opportunities to improve your loan structure
•  Fixed, floating, offset, and revolving credit options
• Potential long-term interest savings

Break fees - If you're currently on a fixed rate, there may be costs involved in breaking your existing loan.  This isn't always a bad thing and the cost can be minimal when compared to the long term benefit.  

We compare any break fees, new rates, cashback offers, against projected savings to determine whether refinancing genuinely puts you in a better financial position.

It's important to weigh up both the costs and benefits of refinancing or restructuring your mortgage before making any changes.

Why work with Blossom Financial?

With many years (near 2 decades) of banking and lending experience, I take a practical and strategic approach to refinancing.  My focus is helping clients understand the whole picture, including; loan structure, flexibility, costs, cashback opportunities, and long-term outcomes.

Every recommendation is tailored to your individual circumstances and goals.

I'll help you understand whether a change of lender, a restructure of your existing lending, or simply staying where you are is the best option.

The goal is simple, to ensure your mortgage is working as best as possible for you, both now and into the future.

Enquire today, it costs you nothing but could save you thousands

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