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Time to refinance your home loan? Let's talk.

Your fixed rate is due to expire, your equity has grown, your credit score is looking better than ever there are so many reasons to refinance…

Refinancing in three easy steps

Find out how you benefit from refinancing. Chat to a home loan specialist, find out about minimising interest rates, offset accounts, redraw facilities, debt consolidation and unlocking equity that may be available to you.
01.

We compare home loan options for you

We have access to thousands of different loan options from a wide range of lenders. Sit back while we find you the top 3 for your needs.
02.

Sit Back while we do all the paperwork

We've simplified the refinance process to make it easier for you to unlock greater savings. Once you pick a loan we will prepare everything for you.
03.

Seamless transition to your new loan

Once approved we will work with the bank to seamlessly set you up and transition your payments over to the new loan. We will also keep tabs on the rate to ensure you are always getting the best deal.

Your refinance questions, answered

A home loan refinance is the process of replacing your existing home loan with a new one.

This might involve switching loan types, lenders or home loan features.

Refinancing can allow you to potentially save money, access equity, consolidate debt or adjust your loan terms to better suit your financial goals.

Generally, there is no set limit on how often you can refinance your home loan.

While refinancing can affect your credit score, the impact will be minor and temporary. Once you start making repayments on your new loan, your credit score will improve.

Keep in mind that multiple loan applications with different lenders are recorded as ‘hard enquiries’ on your credit report and can negatively impact your score.

You can minimise the number of hard enquiries submitted by comparing your options before applying for a loan, rather than applying for multiple loans in a short timeframe.

Get in touch with a financial advisor to find out if refinancing is the right move for you.

The cost of refinancing a home loan can vary depending on factors like the lender, outstanding loan amount and your financial situation.

Typical costs include:

  • Application and establishment fees

  • Discharge fees

  • Property valuation fees

  • Lenders Mortgage Insurance (LMI) if you have less than 20% equity in your property

  • Break costs if you have a fixed rate home loan and choose to refinance before the end of your fixed term

Before starting the refinance process, speak to an one of our brokers to weigh the pros and cons and see if refinancing could save you.

A cash out refinance allows you to borrow against the equity in your home to receive a lump sum of cash.

You can do this by replacing your existing home loan with a new one that has a higher balance. The difference between the two loans is given to you in cash.

This cash can be used for various purposes, such as home improvements, debt consolidation or other financial needs.

Want to know more or see how much equity you have in your home loan? Talk to one of our brokers today.

Talk to a broker
Adrian
Adrian Busso
Director & Lending Strategist

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Z3 CONCEPTS PTY LTD trading as The Loan Book (ABN 63169044688) with Credit Representative Number 529386 is a Credit Representative of Australian Credit Licence 389328.
This website provides general information only and has been prepared without taking into account your objectives, financial situation or needs. Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.

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