A: Your current home loan may have early repayment penalties and other costs you will need to consider when deciding on whether to refinance your loan. Also there are other factors to consider such as how long do you want your loan term to be, how much you can afford in repayments and should you make interest only payments as opposed to principal and interest repayments? In Australia there are hundreds of loans available from many different lenders. This can be confusing and frustrating for borrowers. Sometimes refinancing is not the answer. So speak to one of our Finance Strategists to determine if refinancing is the right option for you.

Q. Can I use money from refinancing my home to do renovations?

A: Of course you can, and the lenders enjoy lending you the money to do so. They get the advantage of you improving the value of the property they are holding as security for the loan. If the renovation is substantial you will need to provide documentation, plans and quotes for the proposed alterations and extensions. Your Investors Loans Network strategist can guide you with this process.

A: Lines of Credit and Re-Draw facility loans are accessed by internet or phone banking these days. We will explain how and when the funds will be available for you to draw on depending on where we find the best loan for you.