Mortgage planning

Before refinancing, look beyond the rate.

Compare payments, term, fees and early repayment conditions together.

Prepare these details

Compare the current interest rate, outstanding principal, remaining term, monthly payments and early repayment conditions. Lower payments may extend the term; a shorter term may increase monthly commitments.

Clear numbers

Depending on the arrangement, consider interest, valuation, legal, early repayment and other costs. Reverse mortgages also involve insurance premiums and counselling costs. Obtain written fee information and ask about referral remuneration before proceeding.

Clear responsibilities

Outcomes depend on property, income, debts, rates, fees and approval conditions. Savings, returns and approval are not guaranteed. Any investment or insurance component requires its own assessment of risks and obligations.