Can You Remortgage with No Fees?
Homeowners who are interested in learning more about remortgage may want to know if they can remortgage with no fees. Remortgaging or refinancing a home loan refers to switching the existing home loan to a new home loan product with better benefits, including lower interest rates and fees or better terms.
So, can homeowners remortgage with no fees?
Mortgage lenders may offer existing homeowners a loan that they advertise as having no closing costs or fees. Mortgage lenders offer this by charging the homeowner a higher interest rate or by adding the closing costs to their home loan amount, allowing the homeowner to refinance without upfront costs which results in high mortgage repayments.
Mortgage House offers a wide variety of refinancer loans, including variable home loans, fixed home loans, split home loans, and toggle offset loans.
What Process Do I Follow to Remortgage My Home Loan?
The first step of remortgaging an existing home loan is to perform a home loan health check. Home loan health checks consist of taking a look at the current loan terms, interest rate, maturity rate, loan type, and existing equity.
Next, the homeowner will need to select a home loan product that fits best with their existing equity and needs, then apply to gain pre-approval for their selected loan option.
Homeowners who are interested in learning more about remortgaging or are ready to apply for a home loan product should reach out to the Mortgage House team of professional mortgage lenders for further information and specialized assistance and advice throughout the remortgaging process.