How can I get the most from a refinance?

Refinancing is not always a cheap exercise. It needs to be a means to an end.

Here are the 4 usual reasons why a refinance is in order:

1. I WANT TO UNLOCK EQUITY - This is the most common reason especially amongst investors to needing a refinance. In some case though a complete refinance may not be necessary; a loan increase may be available to you through your current lender and we should be able to let you know if this is possible for you as it is usually cheaper.

2. MY INTEREST RATE IS TOO HIGH - Sometimes due to your circumstances and market movements you may find that even though your loan was competitive when you first got it, it has now become more expensive then the competition. At GO we have a 'Refinance comparions calculator' that can help you determine whether it is worth refinancing or whether the cost to do so will outweigh the interest savings.

3. MY LOAN IS THE WRONG TYPE - this is also a very common theme in our neck of the woods. At Go, we specialise in helping our clients pay off their mortgage faster and we often see people stuck with the wrong loans... loans that only drag the mortgage for more years making the banks more money

4. MY LOANS ARE CROSS-COLLATERALISED - an extensive explanation of this matter can be found in the book 'What banks don't want you to know' - download it free by clicking here