Refinancers
Before you switch lenders, find out if you should. Your Refinance Blueprint and broker weigh your rate, fees and break costs against other lenders, and say so if staying put is better.
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Refinancing
Your bank is one option. With access to a panel of 75+ lenders, you get to see the rest.
Home loan refinancing, from your loan review to settlement
Whether it’s your home or an investment, your broker checks your loan against other lenders and plans any switch around your rate, equity and goals.
A sharper rate
Lenders often keep their sharpest rates for new customers. Your broker weighs your rate, fees and break costs against other lenders, and says if staying put wins.
Coming off a fixed rate
Rolling onto the revert rate can lift your repayments sharply. Your broker reviews your options well before your fixed term ends, so you choose before it rolls over.
Accessing your equity
Lenders usually lend up to 80% of your home’s value without LMI. Your broker works out your usable equity for a renovation or next property, and the repayments.
Investment loan refinancing
Interest-only terms end and rents change. Your broker restructures the loans across your properties around your cash flow, working alongside your accountant.
Smarter loan structures
An offset, a fixed and variable split or redraw can cut interest or add flexibility. Your broker builds your structure around how you actually use your money.
After you refinance
A sharp rate today can slip within a year. Brokr Bettr Loan Care checks in every six months, so your new loan is reviewed before it falls behind the market again.
Better to know
A lower repayment isn’t always a cheaper loan. Refinancing onto a fresh 30-year term can drop your repayments and still add years of interest. Your broker keeps you on your current timeline, or shows you what the longer term really costs before you choose it.
Frequently asked questions
Should I refinance my home loan?
It’s worth checking if your rate is no longer competitive, your fixed term is ending, or you want to use your equity. Lenders test you at your rate plus a 3% buffer, so you have to qualify again. Your broker weighs the saving against the costs, and says if staying put is better.
How much does it cost to refinance?
Usually a discharge fee from your old lender and government fees to register the change, plus any new lender fees, break costs on a fixed loan, and LMI if you borrow over 80% of the value. Your broker totals them before you decide, so the saving is measured after costs.
Can I refinance to access equity?
Usually, yes. Most lenders let you borrow up to 80% of your property’s value without LMI, less what you owe, for a renovation, an investment or other purposes. You still need to qualify for the higher loan, and your broker works out your usable equity first.
Will refinancing affect my credit score?
A new application is recorded as a credit enquiry, and several in a short time can count against you. That’s why your broker checks your options and each lender’s policy first, so you apply once, to the lender most likely to suit you.
How is the broker paid when I switch lenders?
The new lender pays us a commission when your loan settles, and usually an ongoing commission after that. We tell you what we’ll be paid before we recommend anything, and if staying with your lender is better, we say so.