Why choose a mortgage adviser to refinance?

At FinancePath, we understand that refinancing your home loan can be a big decision. With rising living costs and fluctuating interest rates, many Australian homeowners are looking for ways to reduce their financial strain and optimise their mortgage. In fact, recent data shows that 73.7% of all new home loans in Australia were written by mortgage advisers during the June 2024 quarter — the second-highest result on record.

So, why are so many Australians turning to mortgage advisers to refinance their home loans, and how can FinancePath help you?

Professional advice you can trust

In the current economic climate, where cost-of-living pressures are high and interest rates are unpredictable, it’s crucial to ensure your home loan is competitive and meets your needs. A mortgage adviser at FinancePath is a trained finance expert who can offer tailored advice on whether refinancing is the right move for you.

Our team takes the time to understand your financial situation and long-term goals, helping you navigate the complex home loan landscape. As mortgage advisers, we are bound by a "best interests duty", meaning we are legally required to act in your best interest, ensuring you get the right advice and the most suitable home loan options.

A streamlined refinancing process

Refinancing can often feel like a daunting process, especially if you remember the amount of paperwork and steps involved when you first took out your mortgage. That’s where a mortgage adviser comes in.

At FinancePath, we streamline the refinancing process. We manage the paperwork, liaise with lenders on your behalf, and provide ongoing support to ensure a smooth transition. You’ll have an expert by your side from start to finish, guiding you through every step and saving you valuable time and stress.

Tailored finance solutions for your unique needs

No two homeowners are the same, which is why there’s no one-size-fits-all mortgage solution. At FinancePath, we take a personalised approach to refinancing. We listen to your financial goals and design a strategy that suits your specific needs — whether that’s securing a more competitive interest rate, accessing equity for renovations, or consolidating debt.

If we believe features like an offset account or a redraw facility would benefit you, we’ll explain why. However, we won’t push products you don’t need. Our goal is to find the right mortgage that aligns with your unique circumstances.

Understand why you’re refinancing

Before choosing to refinance, it’s critical to understand why you are doing it. While lowering repayments is often a motivating factor, there may be greater goals to uncover to ensure you achieve your objectives without needing to refinance again in a few years.

Are you freeing up cash for a holiday, a new car, or small renovations? There can be a multitude of reasons behind refinancing, and our role is to help you identify these motivations. Once we understand your "why," we’ll put a plan in place to help you achieve your goals while managing your repayment limits effectively.

Access to a wide panel of lenders

When you approach a bank directly, they can only offer you their own home loan products. But as a mortgage adviser, FinancePath has access to a broad panel of lenders — including major banks, credit unions, and non-bank lenders — meaning we can compare a range of options to find the best mortgage for you.

With so many choices available, it can be overwhelming to navigate the mortgage market on your own. We’ll help you sift through hundreds of options and select the one that fits your needs. And when it comes to commissions, the fees we receive are generally consistent across lenders, ensuring we have no incentive to push you toward any particular lender. Our primary focus is always to find the best solution for you.

A holistic approach to your financial future

While banks tend to focus on securing your business in the short term, mortgage advisers like FinancePath take a more holistic approach to your finances. We don’t just look at your current mortgage — we consider your long-term financial goals and work to align your refinancing strategy with those aspirations.

Whether you're planning for retirement, saving for an investment property, or managing a growing family, we’ll help you find a finance solution that supports your broader financial plans.

Common reasons to refinance your mortgage

Refinancing your home loan could help you achieve a variety of financial goals, such as:

• Securing a more competitive interest rate to lower your monthly repayments.
• Accessing equity for renovations, investment properties, or other financial goals.
• Consolidating debt into one manageable loan, reducing interest and simplifying your finances.
• Benefiting from home loan features like offset accounts or redraw facilities, which could save you money in the long run.

With interest rates potentially moving again in early 2025, now is the perfect time to reassess your home loan. By exploring your options and refinancing, you may be able to lock in a more favourable rate or take advantage of features that better suit your financial situation.

Get in touch with FinancePath today

If you’re considering refinancing your home loan, don’t go it alone. At FinancePath, we can help you navigate the refinancing process and find the most competitive mortgage products available.

Contact us today at 1300 780 440 to discuss your refinancing options and start working toward your financial goals.