The Westpac refinance home loan has a lot of advantages. However, people should consider before getting this loan. Why? Let we see.
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WESTPAC REFINANCE HOME LOAN
In order to provide more information about Westpac refinance home loan, we devise this topic into eight parts: “Why do you should get the Westpac to refinance home loan?”, “Switching is quick and easy”, “Call on our expertise”, “Talk to the Home Loan Experts about how people can”, “Looking to refinance your existing loan?”, and “The Westpac refinance home loan”.
1. Why do you should get the Westpac refinance home loan?
If you are finding a way to save money, it is one of a lot of reasons you should think about refinancing:
- Everyone should be looking for a lower interest rate
- Everyone wants to access the equity in your home
- Everyone may want to consolidate debt
- Everyone might be after a loan with extra features
2. Switching is quick and easy
The home loan experts of Westpac can take care of everything when people refinance with them. They’ll make it super easy for people and will speed things up with the Priority Refinance process.
3. Call on our expertise
The smart strategies of Westpac could help people get more out of the home loan. Whether people want to wipe years off the loan, save money or use equity to grow the wealth, Westpac can help people reach the financial goals.
4. Talk to the Home Loan Experts about how people can
- Get closer to owning the home outright.
- The benefit from the Westpac home loan package discounts and special offers.
- People can take advantage of the flexible features on eligible home loans.
- Consolidate the debts (eg: credit card, personal loan) into the home loan.
5. Looking to refinance your existing loan?
Many things may have changed since you last applied for your Westpac personal loan. You may have done more, have children, moved home or changed jobs. When your financial position changes, you may be looking into additional financing.
6. The Westpac refinance home loan
Once people have received an unsecured personal loan and people need some extra money, people need to refinance their existing loan and the outstanding balance on the loan will be included in their new loan amount if people are approved. The current fixed rate at the time people apply will be applied to the total amount of the new loan.
The establishment loan fee current is $250.
If people apply for the new unsecured personal loan online, people need to follow these 7 steps:
Step 1. Explore the costs of refinancing
Subject to the terms and conditions of your current home loan agreement, refinancing can be costly. Make sure you seek professional advice on the costs involved by your current lender. Keep in mind that while exit fees may seem expensive, people can include them in the new loan and still save for longer.
Step 2. Choose the right home loan
Whether people have a property loan with us or another financial institution, Westpac can help people review the current loan and ensure it continues to suit your lifestyle. Contact us to discuss.
The Westpac Home Loan Experts can save people:
- Time by your home or office at a time that suits you
- Interest rates by showing you how to cut your loan term, build equity faster and leverage it to invest.
- Money with a 10-minute personal illustration of different repayment scenarios to show you different ways you can save money.
Step 3. Apply to refinance your loan
After discussing the needs with one of the home loan specialists Westpac, apply for the loan by submitting the application through one of the specialists, online, direct to branch or over the phone. Be sure to include any supporting documentation that is required.
Step 4. Approval and documentation
Once we have received all the necessary documents, we will process your application. Provided all of our lending criteria are met, we will approve your application and will notify you and proceed with the issuance of the Invitation Letter. This should be signed and returned to us as quickly as possible to allow us to arrange the next step.
Step 5. Arranging your settlement
Once we have received your signed Letter of Offer, we will organize a settlement. This is a process where titles are exchanged and the bank registers a mortgage over your property.
Once Westpac receives the signed Invitation Letter, they will process it. This is a process where the title is exchanged and the bank registers a mortgage on your property.
Step 6. Drawdown your loan
- When all the steps have been completed, it is time to congratulate yourself! Welcome to Westpac.
- People can also apply for a new personal loan by calling 132 651 or visiting us at an Australian branch.
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