Refinancing, done properly.
Still on the rate you got years ago? The “loyalty tax” is real. We review your loan against 40+ lenders, calculate your true break-even (including cashback and any break costs), and tell you honestly whether switching is worth it. Sometimes the answer is “stay put”.
Five reasons people switch, and one reason not to.
Back-book rates creep above new-customer offers within a couple of years. An annual check costs nothing.
Rolling onto the lender's default variable is rarely the best outcome. Line up the switch for rollover day.
A real offset, a split, or debt consolidation. Features matter as much as the headline rate.
Renovations, a deposit for the next property, or business use, released cleanly and structured properly.
New job, new income type, ex-partner buyout. The right lender for you now may not be the one you started with.
And the reason not to: switching for a headline rate that evaporates after fees and break costs. That's exactly what the break-even check catches.
Fifteen minutes. Real numbers. Honest answer.
Send us a recent statement. We check your current rate against what 40+ lenders would offer someone with your loan size, LVR and income today, then lay out monthly savings, switching costs, cashback where available, and the break-even month. If staying put wins, we'll say so and diarise the next check.
Deep-dives if you want them: when refinancing is actually worth it, offset vs redraw, and what lenders see on your credit file. Or compare two loans side-by-side on the loan calculators.
Refinancing questions we get every week.
How much does it cost to refinance a home loan?
Typically $800-$1,500 all-in: a discharge fee from your old lender (about $150-$400), government registration fees, and sometimes a new-lender application fee (often waived). If you're on a fixed rate, break costs can apply and change the maths entirely, so we calculate them before you commit. Cashback offers, where available, can offset most or all of the switching cost.
Is refinancing worth it for a 0.5% rate difference?
Often, yes. On a $600,000 loan, 0.5% is roughly $3,000 a year. The real test is break-even: switching costs divided by monthly savings. Under 18 months is usually compelling. We run this exact calculation for you, including any cashback, before recommending a move.
How long does refinancing take?
Usually two to four weeks from application to settlement, depending on the lenders involved and how quickly discharge paperwork moves. Fast-track options exist with some lenders and can cut this down considerably.
Will refinancing hurt my credit score?
One well-prepared application with the right lender has minimal impact. What hurts is scatter-gun applications to multiple lenders, because each one is a hard enquiry. We match policy first and apply once.
I'm on a fixed rate. Can I still refinance?
Yes, but break costs apply and vary daily with market rates, sometimes trivial, sometimes thousands. If your fixed term is ending within a few months, the smarter play is usually to line the refinance up for the rollover date. We time it for you.
Find out what staying loyal is costing you.
Free loan review, your rate against today's market, break-even included. If switching isn't worth it, we'll tell you that too.