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There are a number of reasons to consider refinancing your home loan - perhaps you need to access your home equity, want to consolidate other debts, to get more flexibility in your loan or extra features, or simply to get a better home loan interest rate.

With so much choice and competition in today’s home loan market, it's important to know all the facts to make the right financial decision:

Why Refinance Your Home Loan?

  • Consolidate your debts into one;
  • Take advantage of cheaper home loan rates and lower fees;
  • Access to more home loan features and flexibility;
  • Access the equity in your mortgage to increase the value of your home through renovations or purchase an investment property; and
  • To switch from a fixed rate home loan to a variable home loan.

When to Refinance?

Mortgage refinance can be useful but also comes with risks and will take time and money.

Answer these simple questions before taking the leap:

  • Has your financial situation changed?
  • Are you happy with your existing loan – is the interest rate and features of the mortgage competitive in the market?
  • Are you happy with your existing home loan lender? Has the service been valuable and professional?

What are the Possible Costs?

Refinancing you mortgage can cost a number of fees and charges, including:

  • Application and establishment fees of a new loan;
  • Early settlement fees on the existing loan;
  • Discharge fees on your existing loan;
  • Valuation fees required by some lenders; and
  • Lender’s legal fees

Experience a fresh approach. Compare our home loans to find the best cost saving loan option or use our mortgage calculator tool to calculate your repayments.