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Do You Know How Much You Could Save By Refinancing?

Do you know how much you could save by refinancing?

I believe you have heard people talking about the good reasons to refinance. Refinancing your home loan can be a great step to save money with improved loan features such as lower repayments or extra repayments. In simple words, refinancing can assist you in achieving important goals by taking advantage of the present competitive mortgage market. You can also equip your loan with brand new features and packages. But, do you know how much you could save by refinancing?

Although, refinancing your home loan may offer you some additional features, such as flexibility with repayments, a redraw facility, and an offset account. For the majority of people, the motivation for refinancing is saving money. I bet there are a lot of Australians who don’t know what their current mortgage rate is. When it comes to saving money, the most significant factor is the interest rate.

Secure a lower interest rate

Mortgage rates are dropping sharply with the lowest rate of 2.09% in the market. Switching to a lower interest rate will result in a less repayment amount. That means more a great way to pocket serious savings. In other words, you will feel a tangible difference by increasing the weekly, fortnightly, or monthly cash flow, which would save hundreds of dollars per month potentially.

How much you can save

If your current loan amount is $500,000, the current interest rate is 4%, you are paying off principal & interest on a monthly basis.

Let’s say, you secure a new interest rate of 2.19%, do you have an idea about how much you can save?

You could save $491.12 per month and you will save $176,801 on the total interest payable over the 30 years loan term.

Key points

Securing a lower interest rate is one of the best reasons to refinance.

When the interest rate drops significantly, refinance immediately to shorten the mortgage terms and save your money on interest repayments.

Consider fixing your mortgage to take advantage of lower interest rates.

When it comes to this type of a financial decision, there are always other factors to consider. If you’re considering refinancing, you should always consult with a professional financial advisor like us. We will come up with a tailored solution for your circumstance and make sure your home loan refinance is a smart choice.

Find out more

Contact us to know more about how refinancing can save your money and let us help you to start saving up especially in this challenging time. Every penny matters now.

Disclaimer:

The information presented by staff or employees of Credit Hub and its associated companies is provided for general informational purposes only. We do not guarantee the accuracy, completeness, or timeliness of the data or views presented. Audience members should conduct their own research and verify any information before relying on it. Credit Hub and its associated companies are not liable for any errors or omissions, or for any actions taken based on the information presented.

Mortgage Broker in Point Cook

Credit Hub Australia
About the role

Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.

In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.

“Position is for Mortgage broker on commission/contract basis.”

What you'll be doing
  • You will develop and expand network with our help.
  • Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.

  • You will act on leads and existing database as provided and generate sales and ongoing relations.

  • Actively participate in team meetings and contribute to the overall success of the business

What we're looking for
  • You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.

  • In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.

  • Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.

  • A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.

  • Self-motivated and capable of working independently, while also thriving in a collaborative team environment.

  • Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.

  • Ability to manage multiple tasks, stay organized, and work reliably without supervision.

  • A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.

What we offer

At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:

  • Competitive remuneration and performance-based bonuses
  • Ongoing training and professional development opportunities
  • Flexible work arrangements and a positive work-life balance
About us

Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group. 

If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.

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