Refinance Archives - Uniik Finance

Why You Should Be Reviewing Your Home Loan

Posted on March 31, 2020March 31, 2020 by Uniik Finance

Once people secure their home loan, they often forget about it and simply pay their loan repayments till the end of the loan. This may seem fine, but the reality is you could be missing out on many benefits and savings by not reviewing your home loan regularly. We have put together a list of potential benefits you could get simply by reviewing your home loan every now and then.

Unnecessary and unused perks
When you first set up your home loan have been often extra benefits that are part of the deal. However, as time goes on these benefits may seem unnecessary and are no longer of use to you. Despite this, the rate you pay for your home loan will remain unchanged. By reviewing your home loan, you can refinance to a home loan that makes more sense to your current lifestyle and financial goals.
A change of circumstances
Our lives are constantly changing, whether it is personal circumstances, family or finance, changes in circumstances will always affect the suitability of your loan. Therefore, you should be reviewing your home loan whenever your circumstances change to ensure your loan is still suitable.
Get a better interest rate
While your home loan’s interest rate may have been competitive at the time you signed up for it, it may no longer be competitive against current home loan interest rates. Additionally, the interest rate you were offered was based on your past circumstances, you may be able to get a cheaper interest rate with your current financial history and situation.
Pay off your home loan faster
When you initially set up your home loan you may not have had the funds to afford a shorter home loan. However, if you are now in a better financial position, you may be able to pay it off faster by refinancing.
Due to these potential benefits, you could be missing out on, it is worth reviewing your home loan regularly to ensure your loan is still the right one for you.
If you would like to learn more about reviewing your home loan.

What You Need to Know About Debt Consolidation

Posted on March 16, 2020March 24, 2020 by Uniik Finance

Debt consolidation is the process of consolidating all your existing debt into a single loan rather than pay them off as multiple loans each with their rates of interest. On a surface level, it might make things easier to manage as you only have a single loan to keep track of repayments for. However, it can potentially make things worse for you if the interest rate of the consolidated loan is higher than the unconsolidated interest rates. As a result, there are a few considerations to keep in mind when considering debt consolidation.

Potential for getting deeper into debt

The greater amount of credit that you often get with debt consolidation comes with a greater potential for spending and acquiring even more debt.

Losing a home

If you merge all your unsecured debts with secured debt like a home loan, you could potentially lose your home if you aren’t able to pay off the new debt.

Review all interest rates, fees and charges

Make sure you’re aware of every little fee, charge and interest rate change associated with your consolidated loan so you know if you’re paying more. Often your consolidated loan may seem like it’s cheaper on the surface, but underneath there can be a lot of hidden legal fees, fees for paying off your loan early, application fees, valuation and stamp duty.

Debt consolidation can be a great way to help you manage all your debt. However, it’s not necessarily a cheaper way to do it. Ensure you speak to a broker to know if you’re getting the best deal you can.

If you’d like to learn more about debt consolidation and debt management get in touch with us today.

The benefits of refinancing your home loan

Posted on March 6, 2020March 6, 2020 by Uniik Finance

If you weren’t thinking of refinancing your home loan, you may want to think again. There are many benefits to refinancing that you may want to consider the next time you review your home loan. Refinancing may just be the last key to the puzzle of achieving all your financial goals and saving thousands of dollars.

Reduce your monthly loan repayments

If you refinance to a home loan with a cheaper interest rate you will be able to reduce your monthly payments and your overall mortgage balance, saving you thousands of dollars in interest.

Improve your new home

With the extra funds available to use from lowering your interest rate, you can fund the cost of any renovations or constructions you would like to make on your property without taking out another loan.

Consolidate your debt

One of the options you have when you refinance is to be able to consolidate all of your debts into one loan which makes it easier for you to manage multiple payments.

Potential tax benefits

By refinancing to another loan and using the savings to invest you can potentially take advantage of potential tax benefits such as negative gearing and depreciation benefits. Due to all the potential benefits of refinancing your home loan, it is a choice worth considering. A mortgage broker will help you unlock these benefits by finding you the best home loan for you possible.

If you would like to learn more about refinancing your home loan and the benefits of doing so, please get in touch with us to day

Hans is the most passionate and dedicated person to his work that I have ever had the wonderful opportunity to meet. He strives above and beyond to achieve the best possible outcome for his clients. He always finds the time to make himself available without hesitation and his bubbly personality and exciting nature will bring a smile to your face

YOLANDA christodoulou

I've had the pleasure of using Uniik Finance for many of my purchases, Hans' is always fantastic. He knows the business very well, he's very thorough and diligent to make sure a successful loan and settlement. Highly recommended.

D Dang

What can I possibly say about Hans And my experience with him!
Extremely competitive ,Professional and efficient
I recently refinanced my home loans where Uniik finance who did all the hard work of finding the best possible loan for my circumstances , when I realised my interest rate had become really uncompetitive due to my old lender not passing through rate cuts and even increasing my rates by small bits here and there over the years. By getting Hans to look into my portfolio and moving me to another loan provider who was able to reduce my rate from well above 6% to just 3.82 %, which adds up to a lot of dollars saved every year. The initial application with with Uniik finance was very easy.
There was no hassle and the time involved was well worth the savings!
Hans has been great to deal with, both through the application and with day to day stuff.Thank you again
Highly recommended.

Mena Abdelmessih