LOAN OPTIONS

See the most frequently asked questions about refinancing existing loans.

How do I choose the loan that’s right for me?

New home loan products are emerging rapidly in the market. Mortgage Consultants at Addon Broker can help you find a loan and professionally package it so that it suits your particular needs and circumstances.

What are the costs/fees involved in switching mortgages?

Penalty fees may apply if you’re paying off your current mortgage early. This can be based on your current mortgage. For example, you might pay an exit fee, if you’re exiting a fixed home loan.  But these may be offset by repayment savings when you refinance home loan.  Consult our mortgage consultants to understand the fees/costs involved in refinancing your existing mortgage.

Can I get cash back when I refinance my mortgage?

This depends on how much equity you have in your home. You may qualify for a cash-back refinance. Our mortgage consultants can help you determine whether this is a viable option for you.

How will refinancing benefit me?

Refinancing lets you change your home loan to suit your new circumstances. Common reasons why you may want to refinance your home loan, investment loan or commercial mortgage include:
  • Home renovations such as refurbishment, remodelling, installing a pool or adding outbuildings.
  • Saving money by refinancing to a mortgage with a lower interest rate or or reduced fee,  and
  • Accessing new loan features better suited to your current situation.
  • Debt consolidation to pay off credit cards, store cards and other loans by rolling them into your home loan.
  • Accessing equity in your home for overseas travel, purchase a car, investment property and other purposes.

How often do I make home loan repayments – weekly, fortnightly or monthly?

Most lenders offer flexible repayment options to suit your needs. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and duration off your loan.

How is interest calculated?

Your home loan interest is calculated on the daily outstanding balance of your loan. Making extra repayments or depositing additional funds into your home loan account will reduce the interest payable significantly. Redraw facility in your home loan will help you to redraw these funds as and when you need them.

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Add Mortgage Broking to

your existing portfolio

Mortgage brokering can be extremely financially rewarding when done right, and we do it right! Our successful and flexible business model ensures that you are able to extend your business proposition in to the field of mortgage brokering while continuing to maintain your brand’s unique identity with absolutely no hassle.

You can now realize your potential, grow your revenue and leverage your existing client portfolio! How is this all possible, you might ask? When you become a part of our turnkey program, you gain instant access to our diverse network of brokers, lending organizations and franchises. Yes, you read it correctly! You get to build your business with the support of ours.

Joining us would ensure that you not only learn, but we also go to great lengths to help you adapt best practices that are vital to your business being successful in the mortgage brokering industry

WATCH YOUR BUSINESS REACH NEW HEIGHTS WITH MORTGAGE BROKERING SERVICES

Add Mortgage Broking to

your existing portfolio

Mortgage brokering can be extremely financially rewarding when done right, and we do it right! Our successful and flexible business model ensures that you are able to extend your business proposition in to the field of mortgage brokering while continuing to maintain your brand’s unique identity with absolutely no hassle.

You can now realize your potential, grow your revenue and leverage your existing client portfolio! How is this all possible, you might ask? When you become a part of our turnkey program, you gain instant access to our diverse network of brokers, lending organizations and franchises. Yes, you read it correctly! You get to build your business with the support of ours.

Joining us would ensure that you not only learn, but we also go to great lengths to help you adapt best practices that are vital to your business being successful in the mortgage brokering industry

WATCH YOUR BUSINESS REACH NEW HEIGHTS WITH MORTGAGE BROKERING SERVICES