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Refinance Loans

Business Loan Refinancing is simply replacement of one debt obligation with another. According to the Wikipedia the main reasons for refinancing are:
  1. Take advantage of a better deal.
  2. Consolidate multiple loans into a best single deal.
  3. Reduce monthly (or whatever the case might be) loan repayments.
  4. Reduce penalties (for example by switching from fixed to variable).
  5. Mitigate risks (for example fixing interest rate).
  6. Free up some cash.
  7. Optimise your tax liabilities.

You need to start your Loan Refinance with a clear picture of what you want to achieve. Mortgage Brokers are there for you to help you avoid the pitfalls.

Even when your goal is clear, Loan Refinance is not a trivial task. Typically, there are fees, penalties, conditions in existing and proposed loans. The best way is to get a Mortgage Broker to do all the math to make sure the Loan Refinance will be to your benefit instead of leaving you out of pocket.

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