REFINANCING

Because your home is a lifestyle

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The one solution for all refinancing needs

When your circumstances have changed, our team of highly skilled mortgage brokers can help restructure your investment to better suit your needs.

What we do for our refinancers

One solution
Skilled assessment of your personal financial circumstances to create one tailored and innovative finance solution
One contact
Direct communication and personalised support from an expert broker experienced in property finance
One result
Securing your new home with the right loan package to help you enjoy a brighter financial future
CORONIS FINANCE
What matters to you inspires what we do.

Looking for an investment loan? We’ve got the right one for you

Because we know that circumstances change, Coronis’s team of specialist refinance mortgage brokers are professionally skilled in assessing and negotiating the right financing option for your investment. We can help to restructure your loan to suit the unique needs of your property portfolio, helping you achieve better cash flow and interest rates, and maximise the returns on your investment.

Looking for answers? We’ve got one for you

What is home loan refinancing?

Refinancing is basically changing from one home loan to another, where the new mortgage is used to pay out the existing mortgage. While this may sound like a bit of a redundant exercise, refinancing a home loan can save you money, give you access to better loan features and even help you pay off your mortgage sooner.
These days, there are many lenders competing for your business, and you no longer have to stay locked into a loan that doesn’t suit your needs. Switching a home loan isn’t as difficult as you think, and it can yield significant benefits in the short term and over time.

Equity finance can give you access to equity in your property that wasn’t there when you first secured the loan, and help you save money on your home loan repayments, and to reduce your interest rate. Refinancing can also help you to consolidate your debts, helping you to avoid paying excessive interest on separate loans.

What do I need to consider when refinancing?

It’s important to be able to Identify which home loan is most suitable for you and your future financial goals, by assessing ongoing fees, the loan structure, and whether you can offset any loan discharge costs. A skilled refinance mortgage broker will be able to analyse a range of loans and lenders to find the loan products suitable for your circumstances.

It’s also important to consider your credit rating when you’re refinancing. Home loan refinance applications can get rejected, and this will have a negative effect on your credit rating, which could make it more difficult for you to refinance in the future. The refinance mortgage brokers at Coronis are committed to protecting client credit ratings, so they’d never recommend a home loan that you’re unlikely to be accepted for.

What are the benefits of refinancing your home loan?

Refinancing a home loan can benefit you in a number of different ways. The most common reason for financing is saving significant amounts on monthly repayments by refinancing at a lower interest rate, which can save thousands of dollars per year. Switching from a variable to a fixed low interest rate can also help you to avoid paying more when the variable interest rate is fluctuating.
Refinancing can also give you access to features like redraw facilities, the ability to make additional repayments to reduce the interest you’re paying, pay the loan out faster, or the use of an offset account. These facilities can add up to significant savings over time.

You can also access the equity in your property that has built up since you purchased it when you’re refinancing. Mortgage on the mortgage on the higher value of the property can give you access to funds to renovate or consolidate debt.

Is now a good time to refinance?

The official Reserve Bank of Australia (RBA) cash rate is currently sitting at a historic low, and the RBA has stated they have no intentions of raising it until 2024 at the earliest. As a result, in Australia, property investment has been supported by some excellent fixed low interest rates and other deals for refinance. Home loan interest rates are low, and because there are always benefits to property investment, Australia has maintained a strong property market despite massive economic shifts following the GFC and the pandemic, and it’s a relatively safe bet.

However, it’s always important to do a complete assessment of your current circumstances before deciding to move ahead with refinancing, so contact Coronis at any time to speak with a specialist broker for personalised advice.

How much does it cost to own an investment property?

For property investments, Australia’s loan fees and charges are much the same as those for a primary place of residence. They include fees for loan establishment, conveyancing, stamp duty, and building and pest inspections. If you’re planning to rent the property out through a real estate agency, you’ll also need to budget for advertising and property management fees.
In Australia, property investment also affects your tax. An investment property will be classed as being either positively geared or negatively geared: positive gearing is defined as when the income you receive from the investment property is more than your deductions (interest payable on the loan, depreciation, cost of ongoing maintenance, etc.), and the income from your investment property may be taxed; negative gearing is when the income from your investment property is less than your expenses, and you may be eligible to claim a tax benefit.

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