Thinking of refinancing your home in Sydney? 4 reasons why you should in 2021

Photo by: Bella Co on Pexels.
A landscape of Sydney with the CBD and Sydney Harbour Bridge in view.

Let’s face it, Sydney is definitely not the most affordable city to live in. Among the various Australian cities, Sydney remains to be the most expensive. With the COVID-19 restrictions still in play, many Sydneysiders continue to feel the financial perils of the pandemic. Despite this, the new year has inspired many of us to shift the momentum towards a more positive and productive year whether it be financially or socially. As an independent mortgage broker, we’re offering an easy solution to your predicament.

2020 was certainly not all sunshines and rainbows. With the aftermath of the 2020 Australian bushfires and the developing issue of the Adani Coal Mine, climate change continues to be a pressing issue for present day Australians. But the good news is that 2020 has surfaced an all time low for fixed mortgage rates. What this means for you is that you could save some money simply by refinancing your current home loan. What is even better is that here at BFG, we can help you save some money while also making your mark on the environment. 

With this being said, here are 4 reasons why it just might be the right time to start considering whether you should refinance your home:

Save Yourself Some Money

Living in Sydney can be straining on the pockets and this year is undeniably no different. With the financial impact 2020 has had on all of us, saving your hard earned cash might be the right move to make.

The Australian economy is still in the midst of an economic recovery. Getting over this hump is definitely a long process, but economists have predicted that mortgage rates are only set to increase in 2021. Fortunately for Sydney residents mortgage rates are currently sitting at a low point and it may be your best chance to double down on low mortgage rates.

We get it, refinancing may not be the simplest process – which is why we’ve made it as easy as pie in our guide to refinancing here.

Make an Impact on the Globe

If 2020 has taught us anything, it has highlighted the importance of anticipation. The arrival of COVID-19 has shown us what a lack of preparation looks like. So, what can we do to ensure that we are equipped for any future impending issues? 

The truth is that we can’t. 

However, what we can do is to try to mitigate the possibility of all risks materialising. As an individual you may feel defenceless and unmoving to make an impact. But this is far from true.

Help Support Small Businesses

In 2020, it was great to see everyone come together as a community in times of disorder. With COVID-19 restrictions slowly easing – albeit still active – many small businesses are starting to get back on their feet. In light of our current environmental and social climate, many emerging small businesses have surfaced with a commitment to improve business ethics. At BFG, we have a strong belief in changing the status quo of business operations particularly in the finance sector. 

By refinancing your home with us, you are supporting a local business who is committed to saving you money whilst also making an impact on the environment. 

Make a Fresh Start

2020 was a write off – we are all looking to turn the page and start anew. Refinancing your home and seeking a better mortgage rate would be the perfect start to what we hope is a more fruitful year so why not start now?

Disclaimer: The information provided above is general in nature and does not constitute financial advice. Please speak to us for recommendations on your individual circumstances and requirements.