Refinancing
When did you last check what you're actually paying?
Lenders reserve their sharpest rates for new customers and quietly leave existing ones behind. A review costs you nothing, takes a day, and frequently finds thousands a year.
Why people refinance
It isn't always about the rate.
Half the refinances we do are about structure or access to equity rather than shaving the interest number.
A sharper rate
The loyalty tax is real — existing customers routinely sit on rates well above what the same bank offers new borrowers. On a $600,000 loan, half a percent is around $3,000 a year.
Release equity
Turn the growth in your property into usable funds for a renovation, the deposit on an investment property, or a business opportunity.
Consolidate debt
Fold credit cards, personal loans and car finance into the mortgage at a far lower rate — structured so the term doesn't quietly cost you more.
Change the structure
Move to a loan with a proper offset, split part of it to fixed, or separate investment borrowings cleanly from personal ones.
A fixed rate rolling off
When a fixed term ends, loans usually revert to a sharp-elbowed variable rate. That moment is the single best time to review and move.
Remove a guarantor
Once you've built enough equity, refinancing can release a family member's guarantee and give them their title back unencumbered.
The loyalty tax
Staying put is rarely rewarded.
Banks compete hard for new borrowers and far less hard for the ones they already have. If you haven't reviewed your loan in two years, there is a decent chance you're paying for that.
0.5%
Typical gap
Between an unreviewed loan and a sharp current offer.
~$3,000
A year
What that gap costs on a $600,000 balance.
1 day
To find out
We'll tell you if it's worth moving — or if it isn't.
Indicative figures for illustration. Your actual position depends on your rate, balance and remaining term.
The process
Four steps, and we'll tell you if you should stay.
01
A free rate review
Send us your current rate, balance and lender. We'll tell you within a day whether there's enough on the table to be worth the effort.
02
We compare properly
Across 25+ lenders, on total cost including fees — not headline rates. Sometimes the answer is that you should stay, and we'll say so.
03
We ask your lender first
Often your existing bank will match or improve rather than lose you. That's the cheapest outcome available, and we try it before moving anything.
04
We handle the switch
Application, valuation, discharge paperwork and settlement coordination. Your repayments continue uninterrupted throughout.
Worth saying plainly: we're paid by the lender when a loan settles, so we only get paid if you move. That's exactly why we tell you when you shouldn't. A client who stays put this year and refinances in two — because we were straight with them — is worth considerably more than one bad switch.
Releasing equity
Refinancing is how most investors fund the next purchase.
If your property has grown in value, that growth can become the deposit on the next one — without saving a cent.
- Usable equity is roughly 80% of current value, less what you owe
- Structured as a separate split so investment borrowings stay clean
- Arranged before you're bidding, not while you're negotiating
- Sized so it doesn't eat the capacity you need for the purchase itself
How much can you actually borrow?
Open BorrowIQ — our borrowing power calculator. A real serviceability engine, not an income × 5 guess. Takes about two minutes.
Refinancing FAQ
Before you move.
What does refinancing cost?
Typically a discharge fee from your current lender (around $150–400), government registration fees of a few hundred dollars, and possibly an application or valuation fee at the new lender — though many waive these. If you're on a fixed rate, break costs can be significant and sometimes rule it out entirely. Many lenders offer cashback incentives that cover the switching costs outright. We cost the whole thing up front so you can see the real break-even.
How long does it take?
Usually three to six weeks from application to settlement, depending on the lender and how quickly the discharge comes back from your current bank. Your repayments carry on as normal throughout and there's no gap in your finance.
Will refinancing hurt my credit score?
A single application causes a small, temporary dip that recovers quickly. Applying to several lenders at once does real damage, which is one good reason to go through a broker — we check lender policy and likely approval before an application is lodged, rather than scattering enquiries to find out.
Is it worth it if I only save 0.3%?
Run the numbers rather than the instinct. On a $700,000 loan, 0.3% is roughly $2,100 a year — comfortably ahead of switching costs within the first year, and worth tens of thousands over the loan's life. On a $200,000 balance with five years remaining, probably not. We'll tell you which side of that line you're on.
Can I refinance if my circumstances have changed?
Often, yes — but it depends. Reduced income, a new business, a recent credit event or a period of parental leave all change how lenders see you. Some lenders are considerably more accommodating than others, and there are also internal options with your current bank that don't require full reassessment. Worth a conversation before assuming the answer is no.
Want the honest answer on your loan? Send us your current rate.
Find out in a day, not a weekend of research.
Send us your lender, rate and balance. We'll come back with what's available, what it'd cost to move, and whether it's genuinely worth doing.