What is refinancing?

Refinancing is when you replace your current home loan with a new one – either with your existing lender or a new one. It can help you save money, change loan features, or access the equity in your home.

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What are the advantages of refinancing?

Refinancing can help you access a lower interest rate, reduce repayments, unlock equity (for renovations or investments), consolidate debts, or switch to features that better suit you – such as an offset account, redraw, or flexible repayment options.

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What costs are involved in refinancing?

Refinancing may involve:

• Discharge fees from your current lender
• Settlement / application fees
• Government registration charges
• Break fees (if you’re ending a fixed rate early)
• Lenders Mortgage Insurance (LMI) (if borrowing more than 80% of the property value)

We’ll outline all our fees clearly upfront.

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How long does the refinancing process take?

Most refinances settle in about 4 - 6 weeks from application to settlement.

• Timing can vary depending on:
• how quickly documents are provided
• the property valuation process
• your current lender’s discharge timelines

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What documents do I need to refinance?

To refinance, you’ll need:

• Proof of identity with photo ID
• Recent payslips or tax returns to show your income
• Statements for your current home loan and other debts
• Details of your expenses and assets

We aim to keep documentation simple using digital verification wherever possible.

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Do I need a property valuation to refinance?

Yes. We arrange an independent valuation to confirm your property’s current value and what you may be able to borrow.

This is standard practice and helps determine:

• your equity position
• your borrowing capacity

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Will refinancing affect my credit score?

A credit check is required when you apply, which may cause a small temporary dip in your credit score. Making repayments on time with your new loan generally helps strengthen your credit profile over time.

In short: one application can have a minor short-term impact, but good repayment behaviour helps long-term.

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What happens to my current home loan after settlement?

Once your refinance settles, we pay out and close your existing loan with your current lender. Your new loan with us begins straight away.

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