Most people only look at their loan when something forces them to: a rate change, a cash-flow squeeze, or a lender letter. By then the options can be narrower than they would have been a few months earlier.
What changes quietly
- Your business. Revenue, profit and the way income is earned all move over time, and lenders assess each of those differently.
- Your property values. A change in value can change how much equity you have to work with and how a lender sees the security.
- Your plans. An expansion, a new purchase or a change in who owns what can mean the original structure no longer suits.
- Lender policy. Lenders adjust how they treat self-employed income, commercial security and different borrowing entities, sometimes in your favour.
A simple review habit
A periodic review looks at whether the loan, the security and the borrowing entity still fit where you are now. Sometimes the answer is that nothing needs to change, and that is a useful answer too.
Refinancing can involve exit costs and new loan costs, so any change should be weighed against those before you proceed.
Video transcript
Hi, I'm Jack Si from Australian Finance Service Solutions.
A good time to look at refinancing isn't when something's gone wrong, it's on a schedule. Your business changes, your property values change, and a loan structure that fit two years ago might not fit now. It costs nothing to check whether your current structure still works for you.
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This is general information only and is not credit advice.
Want us to look at your situation? Send us a message or call 1300 968 888.
General information only, not credit advice. It doesn't take your personal circumstances into account.
Jack (Muyuan) Si is a Credit Representative (516785) of Buyers Choice Licencing Pty Ltd ACN 626 172 281 (Australian Credit Licence No. 509484).