Refinancing involves taking out a new loan that replaces an existing one, primarily to secure lower interest rate, to take the equity out, and other better features. Refinancing can reduce the amount of interest to pay, which ultimately reduces your repayment over the life of your loan.
Similarly, other reasons for refinancing could be if your property’s value has increased and you would like to do some renovations, to consolidate other loans, to release equity, etc.
It is advised to revise your mortgage every 2-3 years and assess if the current loan structure fits your needs and your circumstances. Your income and expenditure status are prone to change over the years, and thus, refinancing may be a wise decision to save money over a longer term.
At Laxmi Home Loans, we help in examining your existing loan and evaluate more cost-effective options. We frequently track the interest rates and apply for an interest rate concession whenever possible. We make sure that we present to you the best loan alternatives!
Kishor Acharya is the man who helped me through the entire time till today for last almost 2 years since we bought the land n home package in 2016 I m very glad that u make us happy n feel good Thank u
I would like to thank Kishore ji for helping us through the process of buying a house. As a first home buyer I was not confident but he guided us through well and hope he will help us guide in future endeavors as well.
Great team, happy with service and support
Thank you for your hard work and honesty- we house owners from Canterbury. Really appreciate you efforts . Wish u all the best ahead in this field.