Refinance Your Home Loan

Refinancing involves replacing your existing home loan with a new loan, either through your current lender or another lender.

Depending on your circumstances, refinancing may provide access to a different interest rate, repayment structure, lender or loan features. It can also involve fees and may increase the total interest payable if the loan term is extended.

We'll review your current loan, goals and financial circumstances, explain the available options and provide you with the information you need to make an informed decision 🌸

There are plenty of reasons to review your home loan. Your fixed rate may be ending, interest rates may have changed, your financial situation may look different or you might simply be wondering whether you're still on the right loan.

Even if you're not sure whether refinancing is worthwhile, we can review your existing loan, explain the potential costs and benefits, and discuss whether there are alternative lending options that may suit your current circumstances 🤍

Refinancing may reduce your repayments if you move to a lower interest rate, change your repayment structure or extend your remaining loan term.

However, a lower monthly repayment does not always mean the loan will cost less overall. Extending the loan term, for example, may increase the total interest paid over time.

We'll compare the relevant costs, repayments, loan terms and features so you can understand the potential short-term and long-term impact before deciding whether to proceed.

Depending on your property value, outstanding loan balance, financial position and the lender’s requirements, refinancing may allow you to access some of the equity in your property.

Many people use equity to renovate their home, purchase an investment property, consolidate debt or fund other major life goals.

We'll explain how equity and usable equity are calculated, the lending criteria that may apply and the potential impact of increasing your loan balance ✨

Refinancing can involve costs such as discharge fees, government charges or new loan establishment fees, although these vary depending on your lender and loan.

These costs should be considered alongside any potential change in repayments, interest charges, loan term and features.

We'll explain the relevant costs and compare the available loan options so you can make an informed decision about whether you wish to proceed 🤍

When you apply to refinance, your lender will generally complete a credit enquiry as part of assessing your application.

A credit enquiry forms part of most lending applications. The effect of an enquiry can vary depending on your broader credit history and the credit reporting body’s scoring model.

Before an application is submitted, we'll review the lender’s general eligibility requirements and discuss the proposed application with you to help reduce unnecessary applications.

It may still be possible, depending on your current circumstances and the lender’s requirements. Many people refinance after changing jobs, becoming self-employed, starting a family or experiencing other major life changes.

Your current circumstances will influence which lenders and loan products may be suitable, but a change in your financial situation doesn't necessarily mean refinancing isn't possible.

We'll review your updated circumstances and explain whether there appear to be lending options available for further assessment.

Every refinance is different, and timeframes vary depending on the lenders involved, the complexity of the application, property valuation requirements and how quickly the required documents are provided. Depending on your circumstances, the lenders involved and how quickly documentation can be provided.

We'll manage the process from start to finish, keep you updated along the way and liaise with both your existing and new lender to help make the transition as smooth and stress-free as possible 🏡