Mortgages | Bonds | Home Loans | Refinancing | Debt Consolidation | New Business Loans
 
 
Home Debt Consolidation Credit Card Debt Loan Products Mortgage Bonds About us Contact us


Rating
starstarstarstarstar
    more
 
  mid
mortgage broker Debt Consolidation
mortgage broker Refinance
mortgage broker Bonds
mortgage broker Home Improvements
mortgage broker Home Loan
mortgage broker New Business
mortgage broker Managing Card Debt
mortgage broker 7 Steps to Refinancing
mortgage broker Benefits to Refinancing
mortgage broker Debt Consolidation Pitfalls
FAQ
Free Course by Email
Prequalify Myself
refinance    
Refinancing: Benefits and Pitfalls  
 

Pitfalls of refinancing

* Determine whether refinancing will save you any money or not.
* Decide on whether or not it is really right for you.
* There are a number of costs involved, such as legal fees and penalties for changing mortgages. These fees can add up and might be more than you can afford.
* Contemplate carefully if refinancing will be beneficial for you in the long term. W
* If you borrow more money it most likely means you will be paying the money back for a longer period of time. Although it may seem helpful at the time, you could end paying more over the long term

Benefits of refinancing

* Refinancing is a chance to switch from an inadequate mortgage and take full advantage of current products which can offer you more competitive rates. Saving on interest has the same net effect as earning interest.
* You can withdraw extra funds with an increase in equity of your property.
* Extra funds can be used to consolidate debt into one monthly repayment and further increase monthly cash flow
* Savings on bond repayments can be invested tax free into new bond and reduce the overall term of your loan.
* Use extra funds to pay for school/university fees, renovate, buy a new car etc.

apply

     
  bot
home | blog | about us | testimonials | FAQs | contact us | our loan products | home loans | bond calculator
bond refinancing | bond application | debt consolidation | home improvement loan | 2nd bonds | business loans

RSS Feed | XML Sitemap | ROR Sitemap
Terms and Conditions, Privacy Policy, Copyright 2007 Global Property Finance
Cape Town, South Africa. Tel: +27 086 110 6204