Refinancing
As competition between mortgage lenders has grown, you may now be able to take advantage of a better deal - and save money - by switching to Toyota Money.
Toyota Money offers home loan products at competitive rates with no ongoing account keeping fees*, so your decision to refinance is made easier. Below is some handy information to help you make the right decision for you.
The best rate to take
Refinancing to get a better rate can often be a financially wise move, particularly if you plan to increase the size of your loan. A lower rate will also provide you with the flexibility of reducing your repayments or paying off your home loan sooner due to the reduction in interest and fees. Toyota Money’s fixed rate home loan can also offer peace of mind for future budgeting knowing the repayment amount won’t change for the term.
If you're looking to refinance your home in order to free up capital, you could consider our variable rate loan. This loan could offer you immediate savings and possibly provide you with money to invest in home improvements, your family or investments.
Compare our products to find the right loan for you.
The winners and losers
The lending market will always fluctuate, in keeping with changing house prices and economic conditions. The Australian mortgage market is very competitive and home loan deals have become more desirable. But in years to come, rates could rise, competition could fall, and the competitive deals dry up. So should you take advantage now?
Generally, you should consider refinancing if your early repayment charges with your current lender are less than the amount you are likely to save in interest and fees if you change to Toyota Money.
Use our Loan comparison calculator to compare a Toyota Money Home Loan to your existing Home Loan.
Want to find out more?
If you want to find out more information or are looking to switch to Toyota Money, simply call 137 500 to speak to a dedicated Home Loan Specialist or send us an email. Our Home Loan Specialist will explain to you what documentation is required and will arrange for the transfer from your existing lender to Toyota Money.
*Terms and Conditions apply. Details on all fees and charges are available upon request.