If you haven't looked at your home loan for a while, you could be paying more than you need to. Lenders often offer sharper rates to new customers than to existing ones, and your needs may have changed since you first took out your loan.
We'll do a complimentary review of your current loan, compare it with options from more than 90 lenders, and tell you honestly whether switching is worth it.
Reasons to refinance
- A lower interest rate to reduce your repayments or pay your loan off sooner
- Your fixed rate is ending and you want to compare before it rolls onto a higher variable rate
- Cash out equity for renovations, an investment property or other goals
- Consolidate debts like credit cards and car loans into one repayment
- Better features such as an offset account or redraw
- Release a guarantor once you've built enough equity
Costs to weigh up
Refinancing isn't free, so we'll set out every cost before you decide:
- Discharge fees from your current lender
- Break costs if you're leaving a fixed rate early
- Application, valuation and settlement fees from the new lender
- Lenders Mortgage Insurance if you'll owe more than 80% of your home's value
We'll only recommend switching if the savings outweigh the costs. Sometimes the best result is for us to negotiate a better rate with your current lender instead.
How refinancing with us works
- Loan review. We look at your current loan, your goals and your finances.
- Compare. We compare options across our panel and explain the pros and cons of each.
- Apply. We prepare and lodge the application and manage it with the lender.
- Settle. Your new lender pays out your old loan and you start saving.
Want to see the numbers first? Try our refinance and repayment calculators.