Q: Are banks still able to penalise you for paying out the loan early?
A: Hi John
On a fixed rate loan the banks can still charge 'break costs' these will vary depending on a number of factors
Whilst they can't charge break fees on variable rate home loans you will still incur their discharge of mortgage fee, typically between $250-$500
Happy to provide more information if needed
Oxygen Home Loans
Mob 0439 456 051
Q: What is the best interest rate I could possibly expect to negotiate if I refinance my home loan?
A: There are a lot of variable before this question can be answered
Type of loan, owner occupied or investment?
Type of repayments, interest only or principal and interest
Loan structure, variable fixed or combination
Features needed, offset or not etc
Happy to discuss further as needed