Refinancing is the process of switching from your current home loan to a different, new loan, usually with a different lender.
There are several potential benefits of refinancing, including a better interest rate (meaning smaller mortgage payments), improved cash flow, and debt consolidation.
Making the decision to build or renovate your own home can be a very exciting time.
When you are constructing a home, you don’t require the entire loan all at once – you will most likely need to pay in stages. This is great, because it means that you will only be paying interest on the money that has been drawn down.
The bank usually arrange an inspection at each of the construction stages where payment is required, meaning that you won’t pay for work that hasn’t been completed.
LKR Finance can arrange the following:
