Refinance Your Home Loan.

You can refinance your home loan to This mortgage category is for a property purchase that you will not use as your principle place of residence.

A number of investment strategies will require an investor home loan to fund the purchase. These can include:

• Save money on loan costs through lower interest rates and cash back incentives
• Reduce your repayments to free up cash flow
• Access equity to fund renovations or investment
• Consolidate your other debts to one low interest repayment

Our brokers will discuss your main objectives for refinancing in the initial consultation so we can find the home loan that best suits your needs.

This will vary significantly between each individual and depends on the time left to repay your loan, the interest rate savings that can be achieved, and the fees associated with switching (yes there will be some!).

If your credit score has improved and your Loan to Value ration has come down you may be able to access loan products that you previously couldn’t. This potentially adds up to big savings!

For example, a 0.25% reduction in your interest rate on a $500,000 loan will save over $28,000 in interest if you refinance after two years of repayments.

If you have high interest consumer debt then it could make sense for you to consolidate them into your mortgage and take advantage of a lower interest rate and single repayment.

This can help with short term cash flow, and also simplify your household budget.

However, by extending the loan repayment time you could end up paying more in the long run. So speak to our brokers about what you are trying to achieve by refinancing all of your debt together so we can find the right structure for you.

Your current lender may charge some administration fees for closing your current home loan, including an deferred establishment fee if you refinance within a set period of time.

Your new loan may also incur additional fees such as a valuation fee, settlement fee, and a mortgage registration fee.

Our brokers are tasked with finding you a deal where the benefits of refinancing far outweigh the costs.

In some cases this is not possible. For example, if you are currently on a fixed interest rate and refinancing would incur significant break fees than we would not recommend that you proceed until the fixed interest period expires.

There are two seperate issues to consider to determine your borrowing limit when refinancing your mortgage, if you plan on increasing your total borrowings.

The first is by calculating how much equity you can access. This is done by estimating the current loan to value ratio, and calculating the additional borrowings that would increase this figure to 80%.

You could borrow more than this if you are willing to pay the Lender’s Mortgage Insurance premium. 

The second is your capacity to repay the additional debt. Which is determined by your income, expenses, and current debts. 

As part of the initial consultation, our brokers will assess both of these issues so that you are full informed of your refinancing options.

From application to settlement you are usually looking at 2-4 weeks in total. Timeframes vary significantly based on the complexity of an application, the speed to provide all documentation required, and the lender’s internal processes.

If a full valuation is also required then this can also take additional time.

We always seek to complete paperwork on your behalf as efficiently as possible so there are no delays from our end, and we work closely with lenders to ensure they are moving your refinance along.

We conduct all of our business online. You can submit an enquiry online in just a few minutes and we will be in touch in no time.

In the digital age we can accomplish most things via video calls, phone, email, and electronic signature platforms.

Our brokers have access to a panel of over 20 mortgage lenders. 

This allows us to quickly compare home loans and find the best mortgage rates suitable for you. 

The best part is that it is a free service for you! We earn our money from the lender in the form of a commission.

Details of this are provided to you in every case for full transparency. 

The short answer is no, and there are two main reasons for this. 

The first is that your property journey is only beginning and we intend to serve you over the long term. 

We can only do this if you are thrilled with our service. This includes finding the most suitable deal for you now, but also monitoring the market into the future for when things change. 

The second is that there is a legal requirement for mortgage brokers to act in the best interests of their clients. This regulation was introduced to limit the potential for bad actors in the industry. Giving some peace of mind for those unsure about using a broker. 

But our first reason, is our motivation regardless of the regulations. 

There are various degrees of bad credit and the overall answer is that it depends. 

We have access to a large selection of home loan lenders and our brokers know their criteria inside out. 

Book a free consultation today so we can better understand your credit history and can assess what options you have for a home loan.