Why would you need to refinance? 

Does your existing mortgage suit your current needs?  Are you getting the best deal available with rates / fees and charges?

When you took up your existing loan, it was probably the best deal available at the time, however over the past few years, lenders have realised customer needs are continually changing and as such, lenders have introduced professional packages that are available to most clients.  You just have to know how to get the best deal.  That is where we come into the picture.  We combine our industry knowledge and our computer software to help determine the best deal for you and your needs.  We sit down with you to discuss your current and furure requirements and help determine the best option for you.  We then do all the work with refnancing your loan either with your current lender or another lender from start to finish.

On top of this, we like to review your loans every year to make sure you still have the best deal around.

 

 

No Stamp duty payable on owner occupied refinances

 

From the 1st September 2007, the NSW government made changes to mortgage duty payable:

 

Mortgage duty is not chargeable in respect of a mortgage if the mortgage secures an advance or advances made for the purpose of owner occupied housing and no other advances (Section 221B Duties Act 1997).

This section applies in respect of a mortgage only if the borrower under the mortgage is a natural person or, if there is more than one borrower, each of them is a natural person.

An advance is made for the purposes of owner occupied housing if it is to be applied wholly or predominantly for one or more of the following purposes:

·         a) financing the acquisition of a residence

·         b) financing the construction of a residence

·         c) financing alterations or additions to a residence

·         d) financing the acquisition of residential land

·         e) repaying another advance, if the advance to be repaid was made for the purpose of owner occupied housing (within the meaning of this section).

A residence is a private dwelling house that is used and occupied or intended to be used and occupied by the borrower, or by any of the borrowers, as a place of residence