Refinancing

How Refinancing Your Loan Saves Money

Replace your current home or business loan with a better deal to cut costs and gain flexibility. Here's what matters.

How Refinancing Works

Switching lenders (or products) lets you access lower rates, better features, or cash out equity. Refinancing hit record highs in Australia as borrowers chased better rates and incentives.
Helps Borrowers

Top Reasons to Refinance

Replace your current home or business loan with a better deal to cut costs and gain flexibility. Here's what matters.

Lower Interest Rate

Even 0.5% reduction saves thousands over the loan term.

Shorter Loan Term

Cut 30 years to 25 without raising repayments—pay off faster.

Better Features

Add offset accounts, unlimited extra repayments, or redraw access.

Flexibility & Security

Switch to fixed, variable, or split rates for rate protection or freedom.

Access Equity

Tap property value for investments, renovations, or education (with caution).

Debt Consolidation

Roll high-interest debts into lower-rate home loan.

Key Considerations

Factor

Watch Out For

Costs

Exit fees, application fees, valuation, legal, LMI

Current Lender

Ask them first—may match better deals

Your Situation

Employment, debts, family changes affect approval

Break Fees

Fixed-rate loans charge heavily for early exit