Home loan refinance
Refinance, done properly.
A refinance should pay for itself inside 12 months and leave you with a structure that still fits in year five. Here's how we model it.
The refinance process
From review to settlement in five steps.
01
Audit the current loan
Rate, product type, balance, remaining term, offset/redraw, fees, fixed period, break costs. A full snapshot of what you actually have.
02
Model the alternatives
Run the target rate across the remaining term, subtract all switching costs, project savings over 1, 3 and 5 years. You see the numbers.
03
Select the lender
Not the cheapest headline — the one with the right structure, the right policies for your situation, and clean servicing.
04
Execute
Application submitted, conditions cleared, discharge authority signed, settlement booked with both lenders.
05
Post-settlement check
Confirm the offset, features and direct debits are set up correctly. The most common post-refi error is a missing offset or a wrong payment date.
Switching costs
The real cost of moving lenders.
A refinance is never free. Typical costs to factor in:
- Discharge fee from the outgoing lender ($250–$400 typically)
- Mortgage deregistration and new registration fees (state-based)
- Application or setup fee at the new lender (often waived or offset by cashback)
- LMI re-charge if your LVR is above 80% (this is the big one — and usually the deal-breaker if it applies)
- Break costs if you're in a fixed period (varies, can be substantial)
Q&A
Refinance FAQs
How long does a refinance take?
Four to six weeks from application to settlement is typical. Complex situations or slow outgoing lenders can stretch it to eight.
Will I need to re-verify my income?
Yes. A refinance is a new loan with the new lender, so full income documentation is required. Payslips, tax returns (if self-employed), and bank statements.
Can I cash out equity at the same time?
Yes. Refinance plus equity release is a common combination — we structure both at once so you don't need two separate applications.
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General advice disclaimer. The information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you before acting on it, and seek professional advice where relevant.
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