Borrowers generally refinance because they are dissatisfied with their existing arrangements for different reasons such as: having too many accounts, combined monthly repayments being too high, interest rates being too high, account fees being too high, a dispute with the existing lender etc. Perceived advantages in refinancing will be linked to one or more of these factors. Benefits can include:

• reducing the number of accounts you are operating and making things simpler
• reducing your total monthly payments by possible consolidation of debts
• obtaining a better rate from another lender
• reducing fees
• taking advantage of another lenders special offer or better loan conditions
• your overall loan position may be improved by refinancing and restructuring

If you are considering refinancing an investment loan, it is worthwhile to speak with your Accountant first to ensure that you are optimising your taxation position by having the correct structure of owners, borrowers and security properties on the new loan.