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Home Services Refinancing

Refinancing

Could You Be Paying Less?

Is It Time to Refinance Your Home Loan?

Many Australians are paying more than they need to on their mortgage. If you have not reviewed your home loan in the past two years, there is a strong chance a better rate — or a more suitable loan product — exists. Refinancing is not just about getting a lower rate. It can also unlock equity, restructure your loan, consolidate debts, or add features that better suit your current life stage.

Why People Refinance

Lower Your Rate

Even a 0.5% reduction in your interest rate can mean significant savings. On a $600,000 loan, that equates to approximately $3,000 per year, or $90,000 over a 30-year loan term.

Access Equity

If your property has increased in value since purchase, refinancing can unlock that equity for renovations, an investment property deposit, school fees, or other financial goals.

Better Features

Switch to a loan with an offset account, redraw facility, or the ability to make extra repayments. Better loan features can save you thousands and give you more flexibility.

Debt Consolidation

Roll credit cards, personal loans, and car loans into your mortgage. One lower-rate repayment instead of multiple higher-rate debts can significantly reduce your monthly outgoings.

Is Refinancing Right for You?

Refinancing makes sense when the long-term savings outweigh the switching costs. We do the calculation for you.

Good Reasons to Refinance

  • You are on a rate that is 0.5% or more above current market rates
  • Your fixed rate period is ending and you want to shop around
  • You have built more than 20% equity and can avoid paying LMI again
  • Your financial situation has improved (income increase, debt reduction)
  • You want to access equity in your property
  • You want features your current lender does not offer

Costs to Consider

  • Discharge fee from existing lender: typically $150–$400
  • New loan establishment fee: $0–$600 (many lenders waive this)
  • Government registration fees: mortgage discharge and new mortgage registration (state-dependent, typically $100–$300)
  • Break costs if currently on a fixed rate loan — can be substantial
  • LMI — only applies if your LVR is above 80%

Our break-even analysis: We calculate all the switching costs and compare them against your projected savings to give you a clear picture of whether — and when — refinancing makes financial sense for your specific situation.

How We Refinance Your Loan

We manage the entire refinancing process from start to finish — you just pick the loan you want and we handle the rest.

1

Review Your Current Loan

We obtain the details of your existing loan — rate, fees, remaining term, whether it is fixed or variable, and any break costs that may apply.

2

Compare & Calculate

We compare your current loan against the market, identify suitable alternatives, and calculate the break-even point so you know exactly how long before the savings exceed the switching costs.

3

Lodge & Settle

Once you choose a lender, we prepare and lodge the application, manage the discharge of your existing loan, and coordinate settlement of the new one. Most refinances complete within 4–6 weeks.

Refinancing FAQ

There is no legal limit on how frequently you can refinance. However, lenders generally prefer that at least 6–12 months have passed since your last loan application, as each application creates an enquiry on your credit file. Frequent credit applications can affect your credit score. We help you time refinancing strategically.
LMI only applies if your Loan-to-Value Ratio (LVR) is above 80% at the time of refinancing. If your property has increased in value or you have paid down a significant portion of your loan, your LVR may now be below 80%, meaning no LMI applies. We calculate your current LVR as part of the refinancing assessment.
Breaking a fixed rate loan before the fixed period ends can result in significant break costs. These are calculated by the lender based on the difference between your contracted rate and current wholesale rates. Break costs can range from a few hundred dollars to tens of thousands. We always calculate these before recommending you switch. In many cases, it is better to wait until the fixed period ends.
Most refinances take between 4 and 6 weeks from application to settlement, depending on the lender and how quickly documents are provided. We stay in regular contact with the lender on your behalf and keep you informed throughout the process.
No. Our mortgage broking service is free for borrowers in the vast majority of cases. We are paid a commission by the new lender upon settlement. We are required by law to disclose all commissions to you before you proceed, so you always know exactly how we are compensated.
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Find Out If You Could Be Saving

Send us your enquiry and we will compare your current loan against the market — at no cost and no obligation.

Address

Baulkham Hills, NSW 2153