Refinance Home Loans
Refinancing your home loan involves replacing your current mortgage with a new one, either from your existing lender or a new provider. Many Australian homeowners choose to refinance to take advantage of lower interest rates, which can significantly reduce monthly repayments and the total interest paid over the life of the loan. Beyond rate chasing, refinancing is a powerful tool for consolidating high-interest debt, accessing equity for renovations, or switching to a loan with more flexible features like offset accounts or redraw facilities. Lenders typically look for a clean repayment history and a healthy equity position, usually requiring at least 20% equity to avoid Lenders Mortgage Insurance. The main trade-off is the cost of switching; you must weigh up potential savings against discharge fees, application costs, and the time it takes for a new rate to 'pay back' the transition expenses. We help by modeling these costs against the potential savings, ensuring a move actually leaves you better off.
When it makes sense
- Securing a lower interest rate to reduce monthly mortgage repayments.
- Consolidating credit cards or personal loans into a single mortgage payment.
- Accessing equity for home renovations or property improvements.
- Switching from a variable rate to a fixed rate for repayment certainty.
- Moving to a lender that offers better features like multiple offset accounts.
- Extending or shortening the loan term to suit changing financial goals.
- Removing a guarantor from the original loan once equity has grown.
Indicative terms
| Indicative loan size | 50,000 to 0,000,000+ |
| Indicative max LVR | Up to 95% (LMI may apply over 80%) |
| Indicative rate range | 5.80% p.a. – 7.20% p.a. |
| Loan term | Up to 30 years |
| Repayment types | Principal & Interest or Interest Only |
| Required documents | Payslips, bank statements, current loan details |
| Indicative timeline | 2 to 4 weeks for full settlement |
| Indicative fees | Discharge, application, and valuation fees |
How it works
- Initial Comparison — We review your current mortgage statement and compare it against the latest offers from a wide range of lenders to identify potential savings.
- Strategy & Shortlist — Our team shortlists the most suitable options based on your goals, whether that's the absolute lowest rate or specific features like offset accounts.
- Application & Valuation — Once you choose a lender, we manage the application and coordinate the property valuation required by the new financier to confirm your equity.
- Approval & Discharge — After formal approval, the new lender works with your current bank to discharge the old mortgage and settle the new loan account.