RAMS: Refinancing home loans leads to greater happiness

Australians who have chosen to compare home loans and refinance their current deal in the last five years have seen a variety of benefits including having fewer arguments with their partner, being happier and even sleeping better at night, new research has found.

A recent survey by RAMS Home Loans asked Australians to share their experiences after refinancing their mortgages.

It found that more than half (54 per cent) of the respondents had described their experience after refinancing as helping them to feel happier.

In addition, the majority of respondents (69 per cent) who had refinanced in the past five years said they were more likely to pay off their mortgage quicker or take a holiday (36 per cent) with any extra cash they save annually on mortgage repayments.

Meanwhile, one-third of respondents said refinancing had helped them sleep better at night.

"We have found more and more Australians are not content to simply sit back and take a 'she'll be right' attitude when it comes to their mortgage," said RAMS chief executive officer Melos Sulicich.

"Especially when interest rates are spiralling upwards and personal circumstances may have changed since the time they first took out their loan."

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