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Financing for Renovations

 

Refinance your mortgage and access additional funding for renovations.

 

Many people understand that adding value to your home through renovations such as a new kitchen or new bathroom can be not only financially advantageous by increasing the value of your property but will also improve your family’s lifestyle and harmony at home.

 

Here are a couple of approaches Investor Loans Network can offer to help you fund your renovations:-

 

1. See whether you are able to increase your current loan

If you have held property for a few years chances are your property has increased in value. This increase in value represents your increased equity in the property which could be used to fund the improvements you want to carry out. However, it is important that you determine that the loan you have is the most cost and term effective available in the market today.
Our finance strategists at Investor Loans Network can offer you an objective review of your loan to determine that it is best for you and then organise the loan increase for you at no more cost than dealing directly with your bank or lender. If it is determined that another loan product would serve you better then we can organise that for you too.

 

2. Refinance your home loan to the maximum LVR (Loan to Valuation Ratio)

Line of Credit loans are interest only variable rate loans that allow you to borrow against the equity in your home with the added flexibility of a transaction account built into the home loan. You can access your loan by use of a cheque book, online and/or ATM access card – all at home loan rates!

 

A Redraw facility has fewer ongoing fees and allows you to access your equity by withdrawing lump sum amounts from your loan through online and/or telephone banking with the funds going directly into your nominated bank account.

 

Your Investor Loans Network finance strategist can optimise the funds available to you to conduct your renovations….contact us today!

 

Click here to request a free consultation with one of our finance strategists now.

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